Production Cost Insurance

TORONTO - Mar 13/12 - SNS -- Marsh Canada, Guy Carpenter, and Northbridge General Insurance Corporation have launched a Whole Farm Cost of Production Insurance product for crop and livestock producers called AGRI-PLUS.

AGRI-PLUS, available to producers in Manitoba, Saskatchewan, and Alberta, protects producers from insured events that may cause their annual revenues to fall below their individual historic cost of production levels. The insurance policy is triggered when a producer’s annual revenue falls below a predetermined level based on the producer’s tax information.

Developed to provide additional protection over and above the various private and public sector insurance programs already available, AGRI-PLUS is intended to address the negative effects that drought, excess moisture, and high interest rates can have on a producer’s cash flow. The concept for AGRI-PLUS was developed through feedback from Murray Downing, a grains and oilseeds producer based in Manitoba with experience in farming through such difficult conditions.