Livestock Price Insurance Program Regulation

Livestock Price Insurance Program Regulation, M.R. 280/2014 The Manitoba Agricultural Services Corporation Act , C.C.S.M. c. A25 Regulation 280/2014 Registered December 15, 2014 bilingual version (HTML) Table of Contents Section 1 Definitions 2 Application of definitions 3 Insurance program established 4 Program terms 5 Designation of beef cattle and hogs as livestock 6 Application for insurance 7 Contract 8 Appeals 9 Coming into force Definitions 1 The following definitions apply in this regulation. "Act" means The Manitoba Agricultural Services Corporation Act . («  Loi  ») "contract" means (a) this regulation; (b) the livestock price insurance application; and (c) the livestock price insurance contract. (« contrat ») "detailed program specifications" means the detailed program specifications document that is developed by the western provinces as required by the multilateral agreement and sets out the terms and conditions of WLPIP. (« spécifications détaillées du programme ») "eligible person" means an individual, partnership, joint venture or corporation (other than MASC) that owns or has an ownership interest in insurable livestock and operates a farm in Manitoba. (« personne admissible ») "insurable livestock" means beef cattle or hogs eligible to be insured under a policy. (« bétail assurable ») "insured livestock" means insurable livestock (a) that the insured person has elected for coverage; and (b) that the program administrator, on behalf of MASC, accepts for livestock price insurance. (« bétail assuré ») "insured person" means an eligible person to whom a livestock price insurance contract is issued. (« assuré ») "multilateral agreement" means the agreement entered into between the Government of Canada and each of the governments of the western provinces. (« entente multilatérale ») "livestock price insurance application" means the application for a livestock price insurance contract signed by an eligible person on the form MASC provides for that purpose from time to time. (« proposition d'assurance des prix du bétail ») "livestock price insurance contract" means the form of contract of insurance approved for use from time to time by MASC under WLPIP and posted to the WLPIP Manitoba forms website. (« contrat d'assurance des prix du bétail ») "MASC" means Manitoba Agricultural Services Corporation. (« Société ») "policies" means one or more insuring agreements offered by MASC under the terms and conditions of the livestock price insurance contract. (« polices ») "program administrator" means the Agricultural Financial Services Corporation established in the Province of Alberta by the Agricultural Services Corporation Act , RSA 2000, c. A-12. (« administrateur du programme ») "western provinces" means, collectively, the Provinces of Manitoba, Saskatchewan, Alberta and British Columbia. (« provinces de l'Ouest ») "WLPIP" means the western livestock price insurance program that is established by the multilateral agreement and is offered by each one of the western provinces in cooperation with the program administrator. (« WLPIP ») "WLPIP Manitoba forms website" means the website with the following Internet address: www.wlpip.ca/ManitobaForms. (« site Web des formules du WLPIP en vigueur au Manitoba ») Application of definitions 2 Terms used in this regulation that are not defined in section 1 but are defined in the livestock price insurance contract have the same meaning in this regulation as they have in the livestock price insurance contract regardless of differences in capitalization. Insurance program established 3(1) This regulation establishes a livestock price insurance program in the Province of Manitoba under WLPIP for the purpose of providing insurance for the kinds of loss or damage described in subsection (5). 3(2) The plan established under subsection (1) and compensation paid under the plan is to be funded by money appropriated for that purpose by the legislature or by the Parliament of Canada, or both, in accordance with the multilateral agreement. 3(3) Upon the wind-up or earlier termination of WLPIP, (a) any money held by the program administrator on behalf of MASC, in accordance with the multilateral agreement or otherwise, is payable to, and is the property of, the Government of Manitoba; or (b) any deficit money owed and payable to WLPIP by MASC, in accordance with the multilateral agreement or otherwise, is payable by the Government of Manitoba and not MASC. 3(4) Neither the money appropriated under subsection (2) nor the money held or owed under subsection (3) are part of, or are payable from, the "Production Insurance Fund" or the "Hail Insurance Fund" continued under the Act. 3(5) Subject to the Act and this regulation, MASC may provide insurance to an eligible person for unexpected price declines of insured livestock if the person makes a livestock price insurance application. 3(6) MASC is designated as the insurer under WLPIP for the Province of Manitoba and must engage and appoint the program administrator as MASC's agent and service provider for the purposes of administering the livestock price insurance program on behalf of MASC. 3(7) For the purpose of subsection (5), MASC is authorized to enter into a written agreement with the program administrator detailing the services to be provided by the program administrator in accordance with WLPIP and the detailed program specifications document, which services must at least include the following: (a) determining premium rate methodologies; (b) determining and publishing on the WLPIP website all insured price indices, premiums and settlement indices in accordance with the calendar of insurance agreed to by the western provinces; (c) making available an internet-based portal site to allow insured persons to view and purchase policies and make claims under policies; (d) assessing and paying all claims for indemnity under the livestock price insurance contract and providing the insured person with notice of their right of appeal in respect of that assessment; (e) providing MASC with an accounting of all transactions and administrative costs at such times as MASC may reasonably request. Program terms 4(1) MASC is to establish the form of livestock price insurance application and the livestock price insurance contract from time to time and post such forms as they are established to the WLPIP Manitoba Forms Website. 4(2) MASC may establish at any time, and from time to time, the maximum insurable dollar value to which it will insure under any one policy or policies in respect of any one day, month or other period of time designated by MASC. 4(3) MASC may, in its discretion, suspend sales of new policies based on conditions outlined in the livestock price insurance contract, including unstable market conditions, insufficient data and conditions that may place the Government of Manitoba or MASC at unacceptable risk. 4(4) Insurance provided by MASC under this regulation is subject to the terms and conditions set out in the contract. Designation of beef cattle and hogs as livestock 5 Beef cattle and hogs are designated as livestock for the purpose of the following provisions of the Act: (a) the definitions "agricultural product" and "livestock" in section 1; (b) Division 2 of Part 3. Application for insurance 6 An eligible person who wishes to obtain livestock price insurance under this regulation must apply for the insurance by completing a livestock price insurance application and submitting it for approval by MASC before a policy may be purchased under the livestock price insurance contract. Contract 7(1) If MASC accepts an eligible person's livestock price insurance application, (a) MASC will issue a livestock price insurance contract to the person; and (b) the person is deemed to have notice of and be bound by the terms and conditions of the contract. 7(2) A livestock price insurance contract becomes a binding agreement between an eligible person and MASC upon MASC's acceptance of the livestock price insurance application. 7(3) When an indemnity under a livestock price insurance contract is paid to a person (a) in reliance on (i) misinformation given by the person, or (ii) the failure by the person to disclose to the program administrator or MASC any relevant information; or (b) due to an error by MASC or the program administrator; the amount paid is recoverable as a debt due to MASC. Appeals 8(1) An insured person who wishes to appeal the assessment of a claim under the livestock price insurance contract may appeal the assessment to the appeal tribunal. 8(2) Sections 44 to 47 of the Act apply to appeals under this section. Coming into force 9 This regulation is deemed to have come into force on April 1, 2014.