Global Ag Risk Solutions and Corteva Agriscience partner on canola insurance project
Maryam FaragFood Food & Beverage canola farmers farmers insurance food and beverage insurance
Global Ag Risk Solutions Corp. (GARS) and Corteva Agriscience have come together to offer first-of-its-kind insurance protection for Canadian canola farmers.
Through this collaboration, The Heat Advantage insurance will be included with every purchase of Brevant seeds Nexera canola for farmers in Saskatchewan, Manitoba and Alberta.
“This product represents a next step in how and where we, as leaders, can innovate in the AgTech sector,” said Grant Kosior, President & CEO, GARS. “Agribusiness is evolving at lightspeed; transforming how we farm and moving us, collectively, beyond traditional solutions. I’ve been in this world my whole life, but I’ve never been more excited about where we’re headed than today.”
Offered through GARS’ parametrics.ag product, producers are protected from shallow losses caused by excess heat blast. Parametrics.ag is an insurance product, designed using data from millions of acres and thousands of yields, modelled against 40 years of temperature and canola growing data. Parametrics.ag uses technically sophisticated satellite and radar systems to track temperature and risk in real-time.
Beginning in 2022, 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.
“With demand for canola on the rise, growers have a bright future,” said Tyler Groeneveld, Commercial Grains & Oils Leader, North America, Corteva Agriscience. “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.”