Agricultural Insurance (NB)
“New Brunswick. Agriculture, Aquaculture and Fisheries”
The funder does not disclose this information
Maximum Eligible Amount
Government Grant
Fund Type
The governments of New Brunswick and Canada jointly contribute to all of the administrative costs for the program. Premium costs are shared between producers and the provincial and federal governments. Premium rates are set based on an actuarial methodology. On a crop year basis, producers pay 40% of the total premium cost for comprehensive insurance coverage. Together, the federal and provincial governments contribute the other 60%. Administrative costs are not included in the total premium cost; instead, administrative costs are fully funded by both levels of government.
- Agricultural Insurance is a valuable business risk management tool that provides farmers with financial protection against production losses caused by natural perils, such as drought, excessive moisture, hail, frost, wind and wildlife.
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