Charlottetown, Prince Edward Island (PEI) – Agriculture and Agri-Food Canada
Through a collaborative investment between the federal and provincial governments, a new risk management tool for beef producers will facilitate growth of the sector across the Maritime region.
The new Maritime Livestock Price Insurance Pilot Program will allow producers in PEI and New Brunswick to purchase price protection on beef cattle in the form of an insurance policy, in the event of unexpected market declines.
Through the new initiative, purchasers pay 100% of the premiums while both federal and provincial governments are making investments to administer the pilot program for producers. On PEI, the Maritime Livestock Price Insurance Pilot Program will be administered by the Prince Edward Island Agricultural Insurance Corporation.