ONTARIO GOVERNMENT DELIVERS NEW RISK
MANAGEMENT INSURANCE PROGRAM
On June 29, 2011, the Ontario government
unveiled a new permanent, multi-commodity, Risk
Management Insurance Program (RMIP) for grain
and oilseed, cattle, hog, veal, edible
horticulture and sheep farmers. The RMIP was based
directly on the insurance based program first
contemplated and designed by the farmers
themselves to provide the sustainability
Ontario’s agri-food and livestock industries
need to succeed.
Over the following three months, the provincial government implemented the program which included a number of
commodity specific information sessions across the province with
the application process that began in September of 2011. Premiums
for all participants of the
program were waived for the 2011 year.
This permanent risk management
insurance program will give our farmers the
tools they need to sustain their operations so
they can continue to provide high quality,
locally grown food to Ontario consumers.
BACKGROUND
Ontario’s beef and pork industries are
experiencing a severe downturn. Ontario’s beef cow herd has
declined 18.4% since the beginning of 2003 while sow herd has
declined over 20% since 2007. This downturn is the result of
several factors including BSE, H1N1, and a high Canadian dollar,
bringing increased competition from imports. With multiple
economic threats occurring over an extended period of time, the
current AgriStability program alone is not enough to sustain
these industries.
