Risk Management Insurance Program Services (RMP)
Announced in the 2011 budget as a permanent program, Ontario's Risk Management Insurance Program (RMP) helps farmers manage risks beyond their control, like fluctuating costs and market prices. The program is available for the cattle, edible horticulture, grains and oilseed, hog, sheep and veal sectors. RMP complements AgriStability and Production Insurance. AgriStability was designed to stabilize whole farm income and production insurance was created to mitigate production loss. RMP is comprised of three major components: an RMP program for Livestock; RMP for Grains and Oilseeds, and a Self Directed Risk Management Program (SDRM) for the edible horticulture sector. All three program components were created after extensive consultation with the sectors involved.
In 2012, after nearly a year of positive dialogue between the commodity organizations participating in the provincial Risk Management Insurance Program and Self Directed Risk Management Program, the Ontario Agriculture Sustainability Coalition (OASC) was pleased to announce the continuation of both programs in 2013 with some modifications to ensure that the programs adhere to the $100 million spending limit outlined in the 2012 provincial budget.
This permanent risk management insurance program provides our farmers the tools they need to sustain their operations so they can continue to provide high quality, locally grown food to Ontario consumers.