Home Breadcrumb caret News Breadcrumb caret Risk Ontario introduces new insurance plan for beekeepers Ontario’s Ministry of Agriculture, Food and Rural Affairs announced on Wednesday that beekeepers in the province will soon have access to a new production insurance plan that will help them manage financial loss from winter bee colony damage. Production insurance is part of a suite of business risk management programs designed to help farmers manage […] By Canadian Underwriter | September 23, 2015 | Last updated on October 30, 2024 2 min read Ontario’s Ministry of Agriculture, Food and Rural Affairs announced on Wednesday that beekeepers in the province will soon have access to a new production insurance plan that will help them manage financial loss from winter bee colony damage. Production insurance is part of a suite of business risk management programs designed to help farmers manage losses due to events like weather, pests and disease, the ministry explained in a press release. The costs of these programs are “predictable, stable and shared by producers and the provincial and federal governments,” the ministry said. Related: Ontario agriculture insurance expansion law comes into force The new Bee Mortality Production Insurance Plan, which will begin Nov. 1 and will be administered by Agricorp, gives participating beekeepers “the confidence and security to reinvest in their operations, encouraging greater innovation, profitability and job creation and provides them with the same financial support that beekeepers in other provinces receive,” the release said. To participate, beekeepers must be registered, operate in accordance with the provincial Bees Act and implement best practices to ensure bee health. Related: Ontario Bill 40 could ‘widen production insurance coverage,’ Miller Thomson author writes The plan is the first production insurance plan developed for a commodity other than crops and perennial plants, the ministry reported. Production insurance is currently available for nearly 90 commercially grown crops in Ontario, including grains, oilseeds and certain fruits and vegetables. “To mitigate unforeseen risks experienced by Ontario beekeepers, our government responded to their request to add a risk management plan,” said Jeff Leal, the province’s Minister of Agriculture, Food and Rural Affairs, in the release. “The new Bee Mortality Production Insurance plan under the Agriculture Insurance Act promotes best management practices and allows farmers to manage their risk more effectively.” Canadian Underwriter Save Stroke 1 Print Group 8 Share LI logo