Pork Council Applauds Vaccine Bank, Biofuels Announced in Federal Budget

The recent federal budget’s establishment of a vaccine bank for foot-and-mouth disease, and its support for the growth of the biofuels industry, are excellent steps for Canada’s pork industry, said Canadian Pork Council chair Rene Roy.

“The vaccine bank, and the transportation supply chain office, are proof that governments can partner with producer groups to solve issues,” said Roy. “We know these are steps on a path to ever-depending partnerships with the agriculture sector.”

The Budget also outlines an increase in interest relief for agriculture producers under the Advance Payments Program from $250,000 to $350,000 for 2023 program year.

“The by-products of the biofuels industry may be important feedstocks for our sector, so we look forward to working with government and the sector in meeting the growing demand for lower emissions fuels,” said Roy.

“We also applaud the gov- ernment’s ongoing commitment to ensuring preferred free trade access to the whole G7, and two-thirds of global consumers through the new NAFTA, the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), and the Comprehensive and Progressive Agreement for Trans Pacific Partnership,” he said.

Roy said the budget shows there remains work to be done to help Canada’s agriculture sector, but he said the government is listening.

If there is anything that this never-ending winter has taught me, it is to never judge the people that leave their winter tires on for all twelve months here on the prairies. Not only are those winter tires great at keeping your vehicle out of the ditch while driving through snow, they also provide valuable traction at the boat launch when your minivan or 4x2 pickup truck is having a hard time extracting your boat from the lake!

Once spring does arrive, the window for seeding and spraying is going to be smaller than in previous years. After the seed is in the ground and crop maintenance is underway, summer project season will be here before you know it. Before you hit the ground running with your summer projects, remember an important part of these projects – insurance!

Along with summer projects comes the risk of summer storms. We have seen new buildings blow over during frame-up, bins damaged by wind and hail while only partially completed and excessive rain and water damage projects that are almost complete. We have also seen a rise in rural theft; along with some situations where the thieves return repeatedly without concern of getting caught. I share this to remind you to talk to an insurance broker, to make sure you are insured against these exposures, before you start your project.

A unique detail about the insurance industry is that it is very difficult to place coverage on a partially constructed building. This is not new, but insurers have been even more reluctant this past year to provide coverage for a building that has already been started.

The rationale behind this is, insurers do not want to provide coverage on a project where something may have already gone wrong. They also want to make sure they are collecting the proper amount of premium for the risk they are taking on. While it is challenging, it is not impossible to get coverage after start-up, however it leaves your broker with little leverage and room to negotiate on your behalf.

The best way to avoid this challenge, and the best way to get the best value for your insurance purchase, is to engage your broker prior to the start of the project. While the risk during the concrete and base construction phase of the project does not seem worth insuring too many owners, the coverage rating should reflect that the exposure for that time is limited. Seeking out coverage prior to the start of construction allows your broker time to gather the details, approach multiple markets and obtain the best coverage available for you and your summer project.

At some point soon, summer will arrive, and summer projects will be in full force. Whether you are planning to build a dream shop, a she-shed, or a new home, engage your broker well in advance to get the best insurance value for your project.

Be sure to seek advice and purchase insurance from those who understand your business!

“This is a journey, not a destination,” said Roy. “Investing in the agriculture sector is in the strategic national interest of every country, and we know this government understands the incredible success story of Canadian food security is not to be taken lightly.

“On behalf of pork producers, we will continue to tell our story and advocate for the government’s ongoing improvements to regulations and investments in the sector.”

David Schmidt is an Account Executive and Rempel Insurance Brokers in Morris, MB, specializing in insuring farms and businesses across Manitoba and Saskatchewan. Contact office 204-746-2320, text 204712-6618, email davids@rempelinsurance.com or visit rempelinsurance.com.