Changes to perennial forage insurance for 2020 have been implemented by Alberta’s Agriculture Financial Services Corp.
In response to industry feedback, AFSC has recalculated historical pasture normal yields for 2020, resulting in increased coverage.
It has also updated methods of determining price options “to better reflect feed replacement cost in the event of a loss”, and it has adjusted minimum daily rainfall thresholds so moisture of 0.1 millimetres is considered zero precipitation.
As well, price options for hay and pasture were increased to include a transportation cost of $13 per ton to reflect the cost of trucking replacement feed.
More weather stations in the AFSC network will allow farmers to choose the best one for their farm, AFSC said.
“Clients may choose one, two or three weather stations to best represent conditions on their farm and within proximity of their land base.”
Full details are available here.