Posted Jun. 03, 2019
Saskatchewan Crop Insurance Corporation (SCIC) is reminding Saskatchewan producers that the deadline to enrol in the AgriStability Program for the 2019 program year is July 2, 2019.
This year, producers had more time to assess their risk management approach and consider joining the AgriStability Program. On May 1, 2019, the Honourable Marie-Claude Bibeau, Minister of Agriculture and Agri-Food, announced a two-month extension to the AgriStability enrolment deadline for the 2019 program year without penalty, from April 30th to July 2nd, 2019. This step was agreed to by FPT governments allows the Program to help more farmers manage the impact of current market disruptions and production challenges facing many farm operations.
AgriStability is a low-cost risk management program offering financial assistance to producers who experience large margin declines due to production loss, adverse market conditions and/or increased costs. Coverage is personalized for each farm by using historical data. If a producer’s current program year margin falls more than 30 per cent below their historical reference margin, AgriStability could provide a benefit payment.
Enrolling in the AgriStability Program is easy. Saskatchewan producers can provide all the necessary information over the phone through a five-minute conversation. SCIC requires a few details about the farm and the commodities it produces. Then, SCIC can generate the Enrolment/Fee Notice to join the Program.
The fee is relatively low, at a cost of $315 for every $100,000 of margin covered. All participants are given 30 days from the date on their Enrolment/Fee Notice or until July 2, 2019, whichever is later, to pay these fees. If the annual program fee is paid after the initial deadline, a 20 per cent penalty fee will be added.
Steps have also been taken to reduce the amount of historical information needed for new producers enrolled in the Program. Producers have the option of submitting either their previous three years or five years of historical information in order to process their final application.
SCIC has 21 customer service offices across the province where producers can discuss their risk management plans and evaluate their options. More information can also be accessed by calling the AgriStability Call Centre at 1-866-270-8450, Monday to Friday, 8 a.m. to 5 p.m.
For more information, contact:
Saskatchewan Crop Insurance Corporation