The AgriInsurance program is a risk management tool, administered by Manitoba Agricultural Services Corporation (MASC), for Manitoba farmers to protect all eligible crops against production shortfalls and quality losses caused by natural dangers.
Over 9 million acres of Manitoba farmland are protected by AgriInsurance.
Derek Johnson, Manitoba’s new Agriculture Minister, announces record levels of AgriInsurance coverage for 2022, which is expected to exceed $4.66 billion.
The average coverage is estimated at $463 per acre, compared to $321 per acre in 2021. This increased coverage reflects the expectation of continued strength in commodity prices into the 2022 crop year.
“With a widespread drought throughout the province, 2021 was a difficult year for many Manitoba farmers,” says Johnson. “We’re proud to increase our support to the agricultural sector as we value its strength as a driving force to our economy.”
AgriInsurance premium rates have also increased by about 10%, due to the reduced program surplus resulting from record payments in 2021. Premiums per acre will be higher for most crops due to the increase in coverage.
Under the Canadian Agricultural Partnership, most AgriInsurance program premiums are paid:
- 40% by partaking producers
- 36% by the Government of Canada
- 24% by the Manitoba government
Administrative expenses are paid 60% by Canada and 40% by Manitoba.
AgriInsurance offers a full complement of additional program selections that cover specific crops and coverage situations. To learn more about the AgriInsurance Programs, visit here.