The extension applies to production insurance plans that normally have enrolment deadlines of April 1, May 1 and May 10.
May 19, 2020 By Fruit and Vegetable
Farmers have until June 1, 2020, to apply for coverage under Agricorp’s production insurance or make changes to existing coverage. The extension applies to production insurance plans that normally have enrolment deadlines of April 1, May 1 and May 10.
Agricorp administers risk management programs in Ontario, including production insurance. Agricorp states that extending the enrolment deadline gives farmers more time and flexibility to make business decisions and to assess their program coverage needs, especially in the current challenging times.
Coverage options for 2020 will not be affected, and program delays will not cause gaps in coverage, ensuring farmers continue to have coverage in place.
Although the deadline has changed, Agricorp says it is best to enrol before June 1 for producers able to do so, allowing time to process applications and do any necessary follow-up.
Production insurance is designed to cover yield reductions and quality losses caused by adverse weather, disease, wildlife and insect infestation. However, if producers are looking for different supports, Agricorp lists other government programs that can help:
- AgriStability provides whole farm coverage that is designed to cover large declines in net income caused by production losses, increased costs or market conditions. It covers the income of the whole farm instead of one commodity at a time.
- AgriInvest is designed to cover small declines in net income.
- The Risk Management Program (RMP) is designed to cover losses caused by fluctuating costs and market prices, and is available to producers of grains and oilseeds, cattle, hogs, sheep and veal.
Other deadlines extended for 2020
The deadline to enrol or make changes to coverage for RMP has been extended from May 1 to June 30, 2020. Producers also have until July 3 to secure coverage in AgriStability this year.
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