Marsh Canada launches new product for crop and livestock producers

Marsh Canada, in collaboration with Guy Carpenter and Northbridge General Insurance Corporation, is launching a Whole Farm Cost of Production Insurance solution for crop and livestock producers called AGRI-PLUS.

AGRI-PLUS 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.

It is available to producers in Manitoba, Saskatchewan, and Alberta.

The program provides additional protection over and above the various private and public sector insurance programs already available. It addresses the negative effects that drought, excess moisture and high interest rates can have on a producer’s cash flow.

“Historically, crop and livestock producers have had limited risk management tools with which to protect their businesses from unfavourable economic and environmental conditions affecting their businesses,” said Neil Mitchell, managing director of Marsh Canada Limited. “AGRI-PLUS is the only product of its kind available to both crop and livestock producers in Canada that provides such protection through coverage of cost of production expenses.”

Such expenses can range from commodity purchases and veterinary fees to machinery and freight costs.