Perennial Crop Insurance 2023
Working in agriculture requires the ability to withstand unpredictable events. To protect producers from designated perils that lead to production loss, Agriculture Financial Services (AFSC) provides a suite of perennial insurance programs.
These programs provide:
- a production guarantee for hay crops based on average historical yields and the coverage option selected; or
- coverage for pasture based on conditions in the area, determined by an indicator of production loss, such as precipitation. This coverage is not directly related to losses to insured fields.
What’s new for 2023
Moisture Deficiency Insurance: As a result of valued client feedback, Moisture Deficiency Insurance (MDI) pasture program is shifting to a monthly payment schedule, providing payments to clients on a timely basis.
Weather Stations: Four new weather stations – Comrey, Vernon Lake, Steveville, and Red Coat – have being added to the network of weather stations across Alberta, while two weather stations – Iron Springs and Altawan – are being replaced with Picture Butte and Sage Creek respectively.
- Clients who had selected Iron Springs and Altawan in the previous year can update their selected weather stations by completing a change request prior to the last day of February.
- As weather stations are subject to change, please view the Weather Station Map or visit your AFSC branch office for a current list of weather stations.
Satellite Yield Insurance: AFSC will not be offering the Satellite Yield Insurance program in 2023 due to technical issues in acquiring the necessary program information. Current clients will be able to switch to the MDI program with no change to their dollar coverage and their continuous participation discount. Contact your preferred AFSC branch office for additional details and to discuss your options.
What was new for 2022