Managing Farm Risk Programme

Farmers looking to better financially protect themselves and their families through tough times are encouraged to apply for a rebate up to $2,500 to help cover the cost of taking on a new agricultural insurance policy, such as multi-peril.

Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce, said the $20 million Managing Farm Risk Programme, an initiative of the $4 billion Agricultural Competitiveness White Paper, is open for applications and is a straightforward process that can be completed online.

“The Managing Farm Risk Programme provides eligible farm businesses with one-off rebates for 50 per cent of the costs, up to a maximum of $2,500, of obtaining independent and professional advice to apply for a new insurance policy.

“This grant is a means of helping farmers get all the facts together to make a considered decision around whether it is worth insuring their farm from perils such as drought, frost, hail and fire.”

“In the past few months alone we’ve seen farmers hit by floods in Western Australia, fires in New South Wales, hail in South Australia and north western Victoria, while drought continues to impact farmers across large parts of Queensland,” Minister Joyce said.

“Time is running out for this cycle, with applications for the majority of existing commercial multi-peril insurance products closing by late April each year due to the growing season. I encourage all interested farmers to go to www.agriculture.gov.au/mfrp to apply.”