Yesterday, Ontario’s legislature passed Bill 40 — Agriculture Insurance Act, 2015 — which will allow for more types of agricultural products to be covered by the province’s production insurance program.
Production insurance is part of the business risk management programs (RMP) designed to help farmers manage losses due to events beyond their control, such as weather, pests and disease.
This new legislation will expand eligibility for the production insurance program for more agricultural products, beyond the 90-plus commercially grown crops already covered by the program in Ontario. The government can now move forward with industry partners to develop potential future production insurance plans for more sectors like apiculture, sheep and pork.
“I would like to express our strong support of Bill 40 and commend the government for taking action on this important issue. Broadening the scope of production insurance beyond crops is an important piece in supporting a positive business environment for the livestock industry in Ontario. Production insurance can be instrumental in providing stability against risks that are beyond the control of pork farmers,” says Amy Cronin, chair for Ontario Pork.
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