Monday, September 24, 2007

Multi-peril insurance scheme urged for Australian farmers

ABC News (Australia): The former president of the South Australian Farmers Federation, John Lush, wants a drought insurance scheme similar to ones in the US and Canada. The so-called multi-peril insurance allows farmers to contribute in good years and claim payments in hard times.

Mr Lush says the drought and the possibility of long-term climate change make it imperative that farming moves with the times. "Given the situation we find ourselves in now and climate change looking quite variable, we need to re-investigate multi-peril crop insurance for Australia," he said.

"If we're going to be competitive with the rest of the world and can keep farmers in business then we need to manage the risk better and we're not managing the risk very well in Australia."

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