Gov’t Of Canada And SK Announce 2023 Crop Insurance Program Enhancements
The Federal Agriculture and Agri-Food Minister Marie-Claude Bibeau and Saskatchewan Agriculture Minister David Marit have announced details of the 2023 Crop Insurance Program.
“Through improvements to the Crop Insurance Program, Saskatchewan farmers continue to get coverage they can count on,” said Bibeau. “We encourage farmers to use risk management tools to help them minimize the economic effects of production losses caused by natural hazards.”
“As we look forward to the 2023 growing season, I want to acknowledge the drive and resilience Saskatchewan farmers and ranchers continue to show year after year,” Marit said. “We had some rough years and while last year was a step forward, there were still very dry areas in the West side of the province and Crop Insurance responded with quick action on claims. That is why it’s important for producers to evaluate their current risk management options and ensure they have the right coverage for their farm.”
Saskatchewan Crop Insurance Corporation (SCIC) continues to provide Saskatchewan producers with higher Crop Insurance coverage. The average coverage for 2023 is at a record-high level of $446 per acre, due to increased commodity prices and yield coverage. With this increased coverage and higher insured prices, the average total premium is $14.79 per acre, an increase from $12.05 in 2022.
Starting in 2023, Crop Insurance customers will see an Individual Premium calculated for each crop they insure. Premiums are individualized based on a producer’s personal claim history compared to the area risk zone. This adjustment (increase or decrease) from the base premium rate is calculated for each customer, and independently for each insured crop. This means, a producer’s claim on one crop does not impact their premium for a different crop. Premium Discounts and Surcharges previously used in the Crop Insurance Program are discontinued.
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