Canada Production Insurance Regulations

Marginal note:Insurance plan records

27 A production insurance agreement entered into with a province shall provide that the province shall keep records in relation to the following items in respect of an insurance plan:

• (a) producer identification, agricultural product identification, risk-splitting benefits and elements of insurance plan identification, year, distinguishable groups of producers, risk area, area insured or exposure unit, probable yield per area, actual yield per seeded area or production per seeded area, value of production per agricultural product, coverage level, unit value, unit value net of non-incurred cost if the cost of production method is used, unit value of risk-splitting benefits, elements of the insurance plan, percentage premium rate, total premiums paid, premium discount or surcharge levels, risk-splitting benefits and elements of the insurance plan loss percentage and level of protection; and

• (b) the number of claims for indemnity, summaries of agricultural product losses or of the number of exposure units indicating the nature and extent of loss and the number and amount of indemnity payments paid, according to agricultural products or exposure units, risk-splitting benefits and elements of the insurance plan and insurance areas.