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Non-yield insurance policy allows farmer risks

A Moose-Jaw based insurance company can help farmers
global ag risk grant kosior
Grant Kosior (Ron Walter photograph)

Farmers can push out higher bushel an acre yields by spending more on crop inputs but generally fear the extra outlay.

A Moose Jaw-based insurance company can cover their fears, says Grant Kosior, founder of Global Ag Risk Solutions.

Insurance of farm input costs is among the policies offered by Global Ag Risk, Kosior told an RBC farm meeting in Moose Jaw.

Benchmarking of data on a district or regional scale is one of the biggest things missing in agriculture, said Kosior.

By sharing information with Farmers Edge, operators can find out that more fertilizer or certain seed varieties will increase yields.

“Benchmarking has created some knowledge and fear.” The fear is: “what if I do it and it freezes on August 19?”

The fear makes sense but Global Ag Risk insures that loss.

“Every time you spend money on your crop your coverage goes up by that same amount. We removed that fear when data shows you need to spend more money.

“If you spend and get kicked in the shins by Mother Nature you just get paid more from Global Ag.”

The input insurance policy will help convince bankers to lend as it transfers risk.

Kosior said the company insures about four million aces at $3 an acre.

Ron Walter can be reached at ronjoy@sasktel.net