Working in agriculture requires the ability to withstand unpredictable events. To protect producers from designated perils that lead to production loss, Agriculture Financial Services Corporation (AFSC) provides a number of perennial crop insurance options as part of their suite of business risk-management programs.
In response to industry feedback, AFSC made adjustments to our Perennial Crop Insurance programs and is pleased to announce we have made the following enhancements for 2020:
• Recalculated historical pasture normal yields for 2020, resulting in an increase to coverage for pasture insurance. On average, pasture normal yields have increased approximately 55 per cent for 2020. The enhanced coverage levels ensure clients receive higher compensation in the event of a loss.
• Updated methodology to determine price options to better reflect feed replacement cost in the event of a loss.
• Adjusted minimum daily precipitation threshold of 0.1 mm for moisture-based products (Moisture Deficiency Insurance and Moisture Deficiency Endorsement). This means that moisture recorded at less than 0.1mm is now considered zero precipitation. This change addresses…
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