Canada Production Insurance Regulations — 1
Definitions 1 The following definitions apply in these Regulations. Act means the Farm Income Protection Act . ( Loi ) actuarially sound manner , in respect of premium rates under an insurance plan, means that the premium rates provide for all costs associated with the transfer of risk and are an estimate of the expected value of future losses under the insurance plan. ( saines pratiques d’actuariat ) actuary means a Fellow of the Canadian Institute of Actuaries. ( actuaire ) coverage level means the percentage of the value of production of an agricultural product that is insured under an insurance plan. ( niveau de protection ) exposure unit means a unit of measurement of an agricultural product that is used to determine the amount of insurance coverage and related premiums under an insurance contract. ( unité d’exposition ) farm enterprise means all exposure units of agricultural products that are produced by a producer or by two or more producers who have a common interest in the agricultural products. ( exploitation agricole ) insurance plan means a set of insurance features under an insurance program for an agricultural product. ( régime d’assurance ) insurance program means a crop insurance program that provides insurance coverage that is based or not based on yield and that may provide for wildlife compensation. ( programme d’assurance production ) insured producer means a holder of a contract of insurance who has an insurable interest in one or more agricultural products covered by the contract. ( producteur assuré ) national certification guidelines means guidelines, developed by Canada in consultation with the provinces, as amended from time to time, that describe the work and documentation needed in preparing the certifications required by these Regulations and that are available on request from the Minister. ( lignes directrices nationales sur les certifications ) new agricultural product means an agricultural product for which protection is offered under an insurance plan at a coverage level that does not exceed 70% of the value of production of the agricultural product and for which insufficient data exists to meet the national certification guidelines. ( nouveau produit agricole ) production guarantee means the amount of insurance protection provided under an insurance contract for an agricultural product, based on the probable yield of the agricultural product, the exposure units insured and the coverage level established under the contract. ( garantie de production ) production insurance agreement means an agreement entered into by Canada and a province to allow contributions to be made by the parties to an insurance program. ( accord sur l’assurance production ) responsible officer means, in respect of any province, the person or persons designated by the province to be responsible for the administration of the province’s insurance program. ( agent compétent ) risk area [Repealed, SOR/2018-118, s. 1] risk-splitting benefit means insurance coverage benefits that are deemed to be risk-splitting benefits in accordance with subsection 4(4). ( garantie de fractionnement du risque ) wildlife compensation means an amount that is paid to producers to compensate them for damage that is specified in a production insurance agreement and that (a) is caused by wildlife specified in the agreement; and (b) is not included as part of an insurance plan. ( indemnités pour les dommages causés par la faune ) SOR/2018-118, s. 1