Canadian farmers face rising crop insurance costs due to extreme weather and increased losses.
Extreme weather is raising crop insurance costs for Canadian farmers due to increased crop losses and payouts. Factors influencing insurance prices include climate conditions and coverage levels. A task force recommends linking insurance to sustainable farming practices to mitigate risks, such as offering lower premiums for crop diversity. To effectively manage rising costs, addressing climate change through carbon pricing and resilience measures is essential.
October 16, 2024
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