Turkey Farmers of Ontario launches new insurance product

Turkey Farmers of Ontario has received funding of nearly $560,000 to finalize and launch a new insurance product to protect Ontario turkey producers from losses associated with outbreaks of avian influenza.

The funding is through the federal government’s AgriRisk Initiatives. This new insurance product will be mandatory for all turkey farmers in Ontario and, once it is launched, will be administered by the Poultry Insurance Exchange Reciprocal of Canada, the federal government says.

“The turkey industry has encountered numerous challenges over the past few years and this funding is very important for the implementation of an Avian Influenza Insurance Program. This will protect not only turkey producers but by extension the poultry industry in Ontario,” says Brian Ricker, chair of Turkey Farmers of Ontario.

When fully implemented, this product will help bridge the gap in existing coverage. Specifically, it will cover economic losses resulting from the difference between compensation through the Canadian Food Inspection Agency for animals ordered destroyed and their full market value. This may include incremental costs such as cleaning and disinfection, veterinary services, the disposal of feed, and other costs related to the resumption of operations.

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