Private Sector Risk Management Partnerships
Agriculture and Agri-Food Canada's Private Sector Risk Management Partnerships programming is designed to achieve two Agricultural Policy Framework Business Risk Management objectives:
- To enhance the capacity of the agricultural industry to manage risks traditionally not covered by public sector programs, and for which private sector coverage is not currently available, and
- To increase the participation of the private sector financial services industry in providing risk management solutions (products and services) to the agricultural industry.
Three types of projects can be considered for PSRMP assistance:
- a comprehensive business case for securing a private sector risk management solution;
- an interim risk management solution, with the expectation that the data collected during this period would support the future development of a business case for insurance-based coverage, or
- a risk assessment to identify and rank the business risks facing the member-producers of the producer organization.
Typical PSRMP project activities
The following are some typical project activities that might be eligible for PSRMP financial assistance:
- research and development costs;
- data collection and/or analysis expenses;
- legal costs directly related to project objective(s);
- actuarial costs and other professional services;
- consultations, and
- travel related to project activities.