A record amount of payouts were made to Saskatchewan producers through a Business Risk Management program, according to a government news release.
The Canadian and Saskatchewan governments announced $60.4-million in payments made under the Saskatchewan Crop Insurance Corporation’s (SCIC) Forage Rainfall Insurance Program.
The provincial government notes the payments were “heavily concentrated in the southwest and west central regions of the province”, where drought conditions were the most prominent. Provincial Agriculture Minister David Marit says, in a news release, over 90 percent of insured acres enrolled in the program received a payment.
Federal Agriculture Minister Lawrence MacAulay says as producers face challenges such as climate change and extreme weather events, programs like these provide a level of stability against income and production loss.
Program payments were issued to participating producers on August 18. Claim payments are based on “the precipitation data gathered at the customer selected weather stations and the insurance selections of each individual producer” according to the release.
The province also reminds customers “fire insurance remains in place for insured Forage Rainfall Insurance Program acres until March 31, 2024”, given the dry conditions.
