Manitoba producers will receive higher Excess Moisture Insurance (EMI) coverage levels as part of the AgriInsurance program for the 2023 crop year, federal Agriculture and Agri-Food Minister Marie-Claude Bibeau and Manitoba Agriculture Minister Derek Johnson announced today.
“Extreme weather conditions continue to challenge and threaten the viability of many producers,” said Bibeau. “With the increasing cost of inputs, these enhancements to the AgriInsurance program’s Excess Moisture Insurance will allow for greater coverage in the event of financial losses.”
Basic EMI coverage is a standard feature of the AgriInsurance program that provides protection against the inability to seed due to wet conditions. Producers can choose increased coverage options at higher premiums. Since 2000, basic EMI coverage has been $50 per acre, while higher coverage options increased in 2014 to $75 and $100 per acre. For 2023, basic coverage will increase to $75 with higher coverage options increasing to $100 and $125.
These changes were made in consultation with producer groups that have expressed interest in higher coverage levels due to rising farming costs. The province’s share of premiums for the 2023 EMI program is estimated to be $8.6 million.
Manitoba Agricultural Services Corp. (MASC) reports there were 866,000 unseeded acres in Manitoba this year (approximately eight per cent of the total acres), resulting in estimated EMI indemnities of $53.5 million.
“The excessive moisture during the growing season this year brought extremely challenging conditions for producers across our province,” said Johnson. “The AgriInsurance program exists for them in these kinds of situations. The newly increased coverage provided through Manitoba Agricultural Services Corporation will bring further assistance and relief to those who need it most.”
MASC will send EMI confirmation letters to all existing AgriInsurance clients later this month to reflect the new coverage levels and premiums. Producers have until Nov. 30 to make changes to their EMI coverage for 2023 by contacting a MASC Service Centre.
Under the Canadian Agricultural Partnership, AgriInsurance premiums for most programs are shared 40 per cent by participating producers, 36 per cent by the Government of Canada and 24 per cent by the Manitoba government. Administrative expenses are paid 60 per cent by Canada and 40 per cent by the Manitoba government.