Agriculture Risk Management Resources (ARMR)
You can’t predict the future, but you can plan for it
Safeguarding your farm business and ensuring its success for years to come is likely one of your biggest priorities, and one you share with many farmers across Manitoba and Saskatchewan. However, ag risk management is complex — and it can be difficult to decide exactly how to protect yourself and your farm from all the potential risks that exist.
An unpredictable climate and severe weather events are two of the biggest concerns your farm is facing today. A comprehensive farm risk management strategy can ensure you are better prepared for these uncertainties.
Our MNP agriculture risk advisors have experience working with farm operations in your region and understand your unique needs. Our team will work closely with you to determine areas of your farm that need a boost of protection. They can help you develop a system that will work for your farm and ensure you’re ready for whatever life throws your way.
What’s your challenge?
Managing and planning for risk
Risks like market fluctuations or negative weather events leave your operation vulnerable. A proper agricultural risk management strategy can help you develop a plan to navigate whatever tomorrow brings.
Insuring your farm
Farm insurance, such as crop insurance, can be complex and expensive. Get support for determining what to insure and ensure you’re paying for a plan that covers your needs.
Navigating government programs
Support programs are constantly evolving. Stay ahead of the changes and make sure your operation remains eligible for key programs.
How we can help
Developing comprehensive ag risk management plans
Our farm risk advisors identify the unique risks facing your operation and implement mitigation strategies to protect your farm.
Create insurance plans that reflect your needs
Effective insurance plans should align to your risks. Our advisors combine the understanding of your farm with knowledge of insurance options to make sure you’re getting the right level of coverage.
Deep knowledge of government programs
We guide farmers through eligibility criteria, application processes, and compliance requirements. We help identify relevant programs like AgriStability or maximize benefits, ensure proper documentation, and facilitate the application process, enabling farmers to access financial support and resources offered by government initiatives.
Contact the team
Our MNP agriculture risk advisors have experience working with farm operations in your region and understand your unique needs. Our team will work closely with you to determine areas of your farm that need a boost of protection. They can help you develop a system that will work for your farm and ensure you’re ready for whatever life throws your way.
Frequently asked questions
Ag risk management is of paramount importance for your farm's financial stability and long-term success. At our firm, we can assist you in assessing potential risks, developing comprehensive risk management plans, and implementing strategies to mitigate those risks. With our expertise, we help proactively address uncertainties, protect your farm against financial losses, and make informed decisions to safeguard your profitability.
Insurance plays a crucial role in protecting your farm from unexpected events like natural disasters, accidents, or crop failures. Our team of advisors can evaluate your specific risks, assess insurance options available in the market, and guide you in selecting the right coverage that aligns with your farm's needs and risk tolerance. We work with you to ensure adequate protection for your assets and operations.
Developing a contingency plan is a crucial aspect of risk management. Advisors can work closely with you to create a comprehensive contingency plan that addresses various potential scenarios and their financial implications. We help you identify alternative revenue streams, establish emergency funds, and explore risk-sharing mechanisms to ensure your farm is prepared to navigate unforeseen events and maintain financial stability.
The issue of Contract Buyouts has been a common and contentious issue over the past years and some of the policies have been updated, especially those that relate to the handling of delayed contract settlements. Our team of ARMR specialists are in regular contact with the various administrations and will ensure that your particular settlement situation is applied accordingly and with the appropriate benefit to your AgriStability filing.
As farming operations grow and organizational structures change, it is important to consider all of the relevant impacts that may result instead of only the tax benefits related to proceeding with a re-organization change for your business. We have the expertise and a broad scope of understanding when it comes to avoiding unintentional consequences that can be detrimental to your operation and we can advise accordingly.
Effective risk management in agriculture, through strategies like insurance and diversification, reduces financial stress for farmers, promoting positive mental health. By providing a sense of control over uncertainties and fostering resilience, these practices contribute to improved decision-making and the ability to cope with challenges.
Contact a member of our Manitoba and Saskatchewan Agriculture team
Patsy Hewitt CPA, CMA
Partner and Business Advisor
Evan Sawatzky
Senior Manager, Assurance and Accounting - Agriculture
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