Canada - Sask. crop insurance premiums, coverage going up

24.02.2017 205 views
Bad weather last year means crop insurance premiums and coverage levels are going up in Saskatchewan this year. Agriculture Minister Lyle Stewart said premiums will average $8.51 an acre -- up 67 cents from last year's average. Stewart says the 8.5 per cent premium increase is needed to cover crops such as lentils and canola. "Those higher premiums reflect more revenue, but they represent higher risk and liability of the crop insurance corporation because of the higher value of the basket of crops that are being seeded on average across the province," Stewart said Thursday at the Saskatchewan Crop Insurance Corp.'s head office in Melville. Stewart said coverage levels will increase by $1 to $217 an acre. The minister also announced that the province will pay out an estimated $650 million in crop insurance claims from 2016 because storms and excess moisture delayed harvest. About 1.3 million acres of crop is still on the fields and it's got to come off, Stewart said. "It's always a serious issue when you have a crop to harvest before you can get in the field to seed. That's a problem," he said. "We know that our producers can get a lot of work done in a short time these days and we don't always expect miracles, but we quite regularly see them. We're mindful of the problem that that is for producers who are affected. We'll be there whatever the end result is in crop insurance." Crop insurance officials could not break down how much of each specific crop remains unharvested. They said the problem is spread across the province. Harvey Malanowich, a farmer in the Canora area and a director with the Saskatchewan Association of Rural Municipalities, said he still has canola to bring in. "The challenge is going to be in the quality of what's out there," said Malanowich. "Unharvested acres, they'll be done in a short time. We have equipment now that can take it off and manpower can do it also." The $650-million payout is not a record loss. That came in 2002 when crop insurance paid out just over $1.2 billion because of a drought. However, the increased crop insurance claims are being cited for the rising provincial deficit. Saskatchewan Premier Brad Wall said earlier this month that crop insurance claims are up $250 million from what was forecast and the deficit is up to about $1.2 billion. Despite the claims, Statistics Canada reported in December that farmers in Saskatchewan had higher production for most crops. The agency said canola production in Saskatchewan was up 2.3 per cent from 2015 to a record high 9.7 million tonnes in 2016 and growers reported producing 2.7 million tonnes of lentils in 2016. Source - http://regina.ctvnews.ca
09.09.2025

USA - Taylor County farmer arrested for crop insurance fraud

A man in Taylor County, KY, has been sentenced to 12 months and 1 day in federal prison for crop insurance fraud. Between 2014 and 2021, Hunt sold crops under the names of other people and significantly underreported his true production on crop insurance claim forms, resulting in over $1.6 million in fraudulent insurance overpayments.

09.09.2025

India - The changes aim to ensure that farmers are not denied crop insurance benefits due to the default of state governments

Union Agriculture Minister Shivraj Singh Chouhan has announced crucial modifications to the Pradhan Mantri Fasal Bima Yojana (PMFBY), citing the Centre's experience with the previous Jagan Reddy government in Andhra Pradesh. The changes aim to ensure that farmers are not denied crop insurance benefits due to the default of state governments.

13.08.2025

New area-yield index insurance helps farmers tackle climate risks

Land Bank Insurance Company has expanded its pilot “index insurance” product with the introduction of Area-Yield Index Insurance (AYII), designed to help farmers manage financial losses caused by large-scale climatic and environmental risks.

13.08.2025

Lithuania declares nationwide emergency over summer rainfall damage

Lithuania’s government on Wednesday declared a nationwide emergency after weeks of heavy summer rains caused widespread crop losses, following a proposal from the National Crisis Management Centre and the Agriculture Ministry.  

13.08.2025

Australia develops world-first biodegradable foot and mouth disease vaccine

The world’s first biodegradable vaccine for foot and mouth disease (FMD) has been developed in Australia, a country that remains free from the dreaded livestock

13.08.2025

USA - Researchers make breakthrough discovery that could transform agriculture: 'This research is important'

Scientists at Iowa State University have determined that co-locating solar panels and certain plants may be beneficial for crop production.  

13.08.2025

Fiji - Agriculture ministry tackles food waste

The Ministry of Agriculture is exploring an innovative new approach to reduce food waste by converting post-harvest losses and kitchen scraps into valuable resources like livestock feed and soil enhancers.  

13.08.2025

USA - Continuing drought affecting Vermont farmers, especially livestock farms

As dry conditions continue to spread across Vermont, one industry that is feeling the heat is the farms.