New revenue insurance product for farmers

A brand new type of revenue insurance called the Production Cost Solution Program is being offered to grain farmers this spring. If it proves itself, it may decrease the need for Crop Insurance and hail insurance. The company behind the offering is Global Ag Risk Solutions of Moose Jaw. The founders are financial planner Grant Kosior, Dean Klippenstein of Meyers Norris Penny and insurance specialist Clark Coulson. The program insures a margin over and above the cost of seed, fertilizer and crop protection products. Whatever you spend on these inputs to grow a crop is included. Thus there’s an incentive to use appropriate inputs to maximize the yield and return. Over and above those cash costs, producers can purchase margins of $25, $50, $75 or $100 an acre. Of course, the higher the margin the higher the premium will be. While every producer will be accessed based on their own historical financial results, Grant Kosior expects premiums for most producers will be around the same range as what hail insurance costs. Not every producer will qualify. This is a private offering and they’re going to pick producers who have a good history of generating strong revenue per acre. Interested producers will have to supply their farm financial records on an accrual basis for the past number of years. No more than 400 producers will be accepted in this first year. If you want to find out more, contact information is available through www.agrisksolutions.ca.

I’m Kevin Hursh.

DynAgra, an independent Western Canada-based Company, is dedicated to providing growers with the tools to manage the risk and maximize the profitability of their farm business through the continued innovation of agricultural products and services. We are committed to developing and providing growers with the latest in precision agronomics, variable rate technology, soil fertility, crop protection, fertilizers, custom application and financial solutions.