REGINA - Details have been released about the 2023 Crop Insurance Program in Saskatchewan.
The announcement was made from Federal Agriculture and Agri-Food Minister Marie-Claude Bibeau and Saskatchewan Agriculture Minister David Marit on Monday morning. In particular, there are two major enhancements coming for this year’s program.
Starting this year, Crop Insurance customers will see an individual premium calculated for each crop they insure.
According to the province’s news release, this adjustment from the base premium rate is calculated for each customer, and independently for each insured crop.
The premium discounts and surcharges used previously in the Crop Insurance Program will be discontinued.
Also for 2023, SCIC is increasing maximum dollar coverage levels of the Unseeded Acreage feature.
The province states that while minimum coverage remains at $50 per acre, additional Unseeded Acreage coverage levels increase to $75, $100 and $125 per acre. This coverage is included with all multi-peril Crop Insurance coverage and offsets costs associated with summer fallow acres that are too wet to seed due to excessive spring moisture.
In other facts and figures, average coverage for 2023 is at a record-high level of $446 per acre due to increased commodity prices and yield coverage. The average total premium is $14.79 per acre, an increase from $12.05 in 2022.
“Through improvements to the Crop Insurance Program, Saskatchewan farmers continue to get coverage they can count on,” said Bibeau in a statement. “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 in a news release. "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."
“It’s always good to review the program to ensure it continues to serve farmers and remains efficient,” SaskCanola Chair Keith Fournier said in a statement. “It is important for farmers to open their insurance packages, review their information and learn about their coverage options.”
“We appreciate the ongoing commitment to Saskatchewan agriculture,” Saskatchewan Rural Municipality Association President Ray Orb said in a news release. “The increases to unseeded acres coverage stands out as an example of SCIC listening and incorporating the concerns of our members.”
The province states March 31 is the deadline to apply, reinstate, cancel or make changes to Crop Insurance contracts. Producers must also select insured crops and coverage levels by then. If no changes are made the producer's coverage will remain the same.
Also, for 2023 the AgriStability compensation rate increases from 70 per cent to 80 per cent to better support farmers in times of need.
