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Wild Rice Insurance Program

The Wild Rice Insurance Program demonstrates the SCIC commitment to ensuring insurance products meet the unique needs of specialized producers.

All SCIC customers are required to complete an application for insurance. Crop Insurance regulations require eligible producers to demonstrate legal, financial and operational independence from all other producers.

To obtain a contract of insurance, contact the customer service office in Prince Albert and make an appointment before March 31.SCIC administers this program based on your Saskatchewan Ministry of Environment licensed acres or declared band acres. You will need to provide approval for SCIC to review your license information collected by Saskatchewan Ministry of Environment and/or the appropriate band office. Without this information, SCIC will be unable to provide you with insurance. SCIC reserves the right to review any contract to ensure compliance with eligibility requirements. Where concerns are identified, the contract holder will be advised of these requirements in order to maintain a contract in future years.

Coverage

Your contract of insurance is continuous. Your 2021 insurance selections and licensed acres will remain the same for 2022 unless you make changes by the deadline.

If you wish to add acres, update the coverage on the acres to be insured, or remove your coverage, you must contact SCIC by March 31. Any outstanding account balances must be paid in full by March 31. If you wish to cancel your contract, you must provide the request in writing by March 31 with the signatures of all parties named on the contract.

The Wild Rice Insurance Program is an area-based insurance program based on average yields. Your coverage depends on the regions in which you harvest. Coverage is based on the average production for each region determined using production data provided by wild rice growers and buyers. Premium is based on the number of licensed acres you insured and cost-shared 40 per cent producer, 36 per cent Government of Canada and 24 per cent Government of Saskatchewan.

Calculating Coverage

Average yield per region (lbs/acre) X customer coverage level. % selected X price ($/lb) = dollar coverage per acre. Dollar coverage per acre. X customer reported acres in this region = customer total dollar coverage for the region.

*Note: Imperial units are used for example purposes only. Actual dollar per-acre coverages will differ slightly as metric units are used for yield and price.

Wild Rice Dollar Coverage Calculation Example
       
Example Central Region Eastern Region Customer Total Dollar Coverage
Customer selected 70% coverage. Price is $1.30/lb. 165 acres Central Region 46 lbs/acre area average yields 200 acres Eastern Region 27 lbs/acre area average yields 46 lbs/acre x 70% = 32.2 lbs/acre. 32.2 lbs/acre x $1.30 = $41.86 coverage per acre. $41.86 x 165 acres = $6,907 customer total coverage. 27 lbs/acre x 70% = 18.9 lbs/acre. 18.9 lbs/acre x $1.30 = $24.57 coverage per acre. $24.57 x 200 acres = $4,914 customer total coverage. $6,907 from the Central Region + $4,914 from the Eastern Region = $11,821
Indemnity Calculation Example
       
Indemnity Calculation Central Region Eastern Region Customer Total Dollar Indemnity for all regions
The average production in the Central Region is 835,933 lbs. and the Eastern Region is 380,135 lbs. The following examples. assume the annual production in the Central Region is 350,000 lbs. and the Eastern Region is 100,000 lbs. Numbers are for example only. 835,933 lbs x 70% = 585,153 lbs production guarantee. 350,000 lbs / 585,153 lbs = 60% of the guarantee was harvested. 100% - 60% = 40% loss of production. $41.86 x 40% = $16.70 indemnity per acre. $16.70 x 165 acres = $2762.10 customer indemnity. 280,135 lbs x 70% = 266,095 lbs production guarantee. 100,000 lbs / 266,095 lbs = 38% of the guarantee. was harvested 100% - 38% = 62% loss of production. $24.57 x 62% = $15.23 indemnity per acre. $15.23 x 200 acres = $3,046.00 customer indemnity. $2,762.10 from the Central Region + $3046.00 from the Eastern Region = $5,808.10
Regional Average Yield
     
Region Regional Average Yield kgs/acres Regional Average Yield lbs/acres*
Western (1) 15 33
Central (2) 18 40
Eastern (3) 10 22

* Imperial units are for example purposes only. Coverage is offered in kilograms per acre.

Customer Premium per Acre
       
Region 50% Coverage 60% Coverage 70% Coverage
Western (1) $1.13 $1.86 $2.98
Central (2) $1.48 $2.63 $4.09
Eastern (3) $0.73 $1.27 $1.95

The insured price is $1.75/lb.

Paying the Premium

Your premium is due as soon as you receive your Statement of Insurance. However, your 2022 premium is interest-free until September 30, 2022. Interest will start to accrue October 1. If the account is paid by October 31, no interest will be charged. After October 31, interest will be charged at the beginning of each month until the account is paid in full. The interest rate is Royal Bank prime plus two per cent, adjusted quarterly. Any contract with premiums not paid or not having payment arrangements made by the March 31, 2023, deadline will not be eligible for coverage in 2023.

Your Claim

Claims will be automatically calculated once harvest is complete. You do not need to contact SCIC to register a claim. Payments are based on the total production of wild rice in each region. If you are eligible for a claim, and there is premium owing, premium will be deducted from claim amounts. If you want to defer your claim, that selection must chosen when completing your endorsement form. If you requested a deferral, the cheque will be issued on that date.