The Federal-Provincial program paid out over $60.4 million for this year with the majority of those payments going to producers in the southwest and west central regions.
The Federal Minister of Agriculture and Agri-Food, Lawrence MacAulay says this record high level of payments to producers is a testament to the need for, and value of, the AgriInsurance Program.
"While producers face ongoing risks related to climate change and extreme weather events, the support of Business Risk Management programs provides some level of stability against income and production loss."
Agriculture Minister David Marit says this is additional cash flow to participating Crop Insurance customers, in reaction to the dry conditions.
"We are seeing this Program respond to producers' needs where precipitation shortages result in feed and pasture shortfalls. I encourage producers to continually reassess options available through the full suite of Business Risk Management Programs."
The Forage Rainfall Insurance program is administered by Saskatchewan Crop Insurance Corporation (SCIC).
Jeff Morrow, SCIC's Acting President, and CEO says producers pick a weather station, and the coverage triggers if the precipitation falls below 80 per cent of what normal would be.
"So in this case producers have a number of options to pick from. Of course, they pick the weather station, the land they want insured. There's three coverage levels, like dollar coverage levels they can pick from. It insures tame and native hay. You can also pick the months they want the most weight given to."
This year, 90 per cent of insured acres under the forage rainfall insurance program received a payout.
Morrow says this year's payout of over $60.4 million is the highest since the program was implemented in 2002.
The Forage Rainfall Insurance Program is available on native and tame acres for hay or grazing, protecting pasture and hayland in the event of below average seasonal rainfall at the producer's selected weather station.
For more information on the Forage Rainfall Insurance Program, click here.