Cost of Production Insurance for Crop and Livestock Producers
To help protect their revenues from the impact of insured events, Marsh Canada, in collaboration with Guy Carpenter, and Northbridge General Insurance Corporation, offers a unique Whole Farm Cost of Production Insurance solution for crop and livestock producers called AGRI-PLUS.
AGRI-PLUS is a private sector insurance program, covering crop and livestock producers (excluding supply management commodities) for a cost of production deficit resulting from an insured peril (drought, flood, hail, wind, frost, lightning, excessive rain, snow, hurricane, tornado, wild fire, accidental fire, insect infestation, gophers or disease) directly causing physical loss of or damage to crops or livestock.
AGRI-PLUS, available to producers in Manitoba, Saskatchewan, and Alberta, protects producers from insured events that may cause their annual revenues to fall below their individual historic cost of production levels. The insurance policy is triggered when a producer’s annual revenue falls below a predetermined level based on the producer’s tax information.
Developed to provide additional protection over and above the various private and public sector insurance programs already available, AGRI-PLUS addresses the negative effects that drought and excess moisture can have on a producer’s cash flow. The concept for AGRI-PLUS was developed through feedback from Murray Downing, a grains and oilseeds producer based in Manitoba with experience in farming through such difficult conditions.