Farmer confidence in AgriInsurance was strong again in 2013, with 9.8 million acres insured, slightly higher than in 2012. Increases in insured values (prices) caused the program’s total coverage to rise to a record $2.7 billion.
After meeting the challenges that faced rural Manitoba in 2011, MASC continued in 2012 to support the Province’s flood clean-up and recovery efforts, and forged ahead with new initiatives in support of rural Manitobans.
Flooding, excess moisture and drought saw Manitoba’s farmers and rural communities facing the perils of nature in nearly every part of the province. Along with the high level of activity in its regular programming, MASC was assigned by the Manitoba Government the significant task of administering its response to the 300-year flood event of the Assiniboine River.
As a partner with the Canada and Manitoba governments, MASC is proud to fulfill a supportive role for Manitoba. We assist farmers by protecting their crops and financing their agricultural pursuits, and we give support to rural businesses and entrepreneurs along their path to success.
At MASC, we are proud to support this notion of perseverance. ‘Lending and Insurance - building a strong rural Manitoba’ isn’t just corporate branding, but an assertion of MASC’s role in rural Manitoba.
The 2008/09 fiscal year saw new programs and enhancements, new milestones, a new framework and new opportunities. There is much new on the Manitoba horizon and MASC remains focused on its vision to build a strong rural Manitoba.
The 2007/08 fiscal year saw MASC continue its support for Manitoba’s agricultural and rural business sectors, which positively responded to the corporation’s lending and insurance programs.
Although the amalgamation of the former Manitoba Crop Insurance Corporation and Manitoba Agricultural Credit Corporation at times was challenging, in the end MASC successfully transitioned into an integrated and efficient organization that offers insurance and specialized lending products to Manitoba’s agricultural and rural business sectors.
On September 1, 2005, the Manitoba Agricultural Services Corporation (MASC) was created through the merger of the Manitoba Crop Insurance Corporation and the Manitoba Agricultural Credit Corporation. By amalgamating two key financial services—insurance and specialized lending— MASC offers a unique and efficient method of serving Manitoba’s agricultural producers and rural businesses.
MCIC assists Manitoba farmers to meet the opportunities and challenges of the agriculture industry by providing cost-effective risk management tools, with our core products being crop and hail insurance.
MACC has provided a range of financial services for Manitoba farmers for the past 44 years with a special emphasis on the needs of the young and beginning farmer.
MCIC paid $198 million in Production Insurance claims in 2004-05. This represents the largest payout in the Corporation’s history, but ranks fifth highest in terms of severity of loss (indemnities divided by coverage).