CGC Nixes Negotiations on Insurance-Based Producer Payment Model

Earlier this week, the Canadian Grain Commission informed its licensees and producer groups that it had ended negotiations with Atradius Credit Insurance NV to develop a Master Insurance Policy Agreement.

A letter sent to licensees, dated July 29, 2014, says, “The CGC has determined that the proposal for an insurance based producer payment protection model will not work in the best interests of all stakeholders in the grain industry, as it would not achieve the necessary objectives for an aggregate inurance model.”

The CGC goes on to say that it will continue working on other opportunities regarding a producer payment protection model, however, in the meantime, the status quo of the current Licensing Program remains.

More to come….

 

 

RealAgriculture News Team

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