Producers to Receive Rainfall Insurance Pay Out
Payments have been issued to producers who took part in the Saskatchewan forage rainfall insurance initiative this year.
On September 5, the governments of Saskatchewan and Canada jointly announced that a total of $60.4 million has been disbursed across 17 forage risk zones. The majority of these payments were distributed in the southwestern and west-central regions of the province, primarily due to drier than usual weather conditions.
David Marit, the Saskatchewan agriculture minister, highlighted in a news release that over 90 percent of insured acres enrolled in the program have received payments, which were distributed on August 18. He emphasized how the program is effectively addressing the needs of producers when precipitation shortages lead to deficits in feed and pasture resources. He also encouraged producers to regularly explore the various options available through the comprehensive suite of business risk management programs.
Claims related to adverse weather conditions are automatically calculated based on data from the weather stations selected by producers for their insurance coverage. Additionally, fire insurance coverage will remain in effect for these acres until March 31, 2024.
Lawrence MacAulay, the federal agriculture minister, stressed the importance of business risk management programs in providing stability against income and production losses. He noted that the record-high payments to producers underscore the necessity and value of the AgriInsurance program.
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