Released on February 24, 2006
Today, Saskatchewan Agriculture and Food Minister Mark Wartman announced the 2006 Saskatchewan Crop Insurance program."With core programs for grains, forage, and organic crops and additional options to tailor producers' coverage to their operations, Crop Insurance remains a foundation for strong risk management on the farm," Wartman said.
A highlight of the announcement is the much-improved financial position of the program. In 2005, the program deficit was reduced from $627 million to $427 million.
In addition, premium rates will remain relatively unchanged from 2005, due in part to the $200 million payment on the program debt.
To meet requirements under the Agricultural Policy Framework, the program is moving to a simplified premium sharing arrangement this year, with government paying 60 per cent of the premium and producers 40 per cent.
Other changes for 2006 include expansion of the Contract Price Option, which allows producers to insure crops at the price they will be sold for, and expanding the Crop Averaging Pilot Program, offering producers coverage above the 80 per cent level.
Crop Insurance customers will be receiving their 2006 endorsement packages in the mail soon. Endorsement packages contain individual information necessary to update coverage for the 2006 crop year, as well as complete program details.
The deadline for customers to apply for or make changes to their 2006 Crop Insurance contract is March 31st. Complete 2006 program and contact information is available at www.saskcropinsurance.com, at any of the 21 customer service offices throughout the province, in individual endorsement packages and at 1-888-935-0000.
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For More Information, Contact:
| Terri Kentel-Weinheimer Saskatchewan Crop Insurance Melville Phone: (306) 728-7287 |