Starting for the 2022 growing season Alberta, Saskatchewan and Manitoba farmers who purchase Brevant seeds Nexera canola will receive automatic yield loss coverage for damage caused by heat, a news release on Sept. 1 says.
The first-of-its-kind insurance program is a partnership between Global Ag Risk Solutions Corp. and Corteva Agriscience. The release notes that historically hot days and warm nights hit at the most vulnerable, flowering stage for canola resulting in lower yields and lost revenue.
Starting for the 2022 growing season farmers who plant Brevant seeds Nexera canola will be automatically protected with up to $100 per acre in the event of excessive heat during the critical flowering growth development stage, the release says.
“With demand for canola on the rise, growers have a bright future,” Tyler Groeneveld, Corteva Agriscience’s commercial grains and oils leader, North America, says in the release. “To help promote that future, we’re bringing our Brevant seeds Nexera canola customers an innovative solution that anticipates their needs and puts them more in control, allowing for greater peace of mind and risk mitigation.”
“Unlike other insurance, there is no time-consuming loss adjustment process, no trips to the field, and the farmer gets paid months ahead of traditional crop insurance,” Grant Kosior, president and CEO of Global Ag Risk Solutions Corp, says in the release.
This incorporated insurance coverage is novel, not only for its progressive offering to growers but also its data sophistication, the release notes.