Insurance companies have assured farmers there is cover available for growers interested in being involved in Genetically Modified canola trials, following a meeting today organised by the New South Wales Farmers' Association.

With the Minister for Agriculture soon to announce his decision on large scale GM canola trials, farmers have been very concerned about whether the risk of liability and the availability of insurance will be addressed.

Association President, Mal Peters says this is great news for farmers who are interested in participating in trials and for their neighbours as well, as there would be some protection on top of the stringent protocols companies need to stand by.

"While growers need to ensure they grow the crop in accordance with trial protocols, the insurance offers additional piece of mind.

"We are strongly encouraging growers to contact their insurance company, look at all their options and find out which company offers the best protection to suit their needs.

"The Association supports trials and we believe they are necessary in providing answers to many concerns such as agronomic performance, trade issues, segregation, marketing and insurance.

"We understand trial protocols will be very strict and the trials, if approved, will be overseen by a third party to ensure everything goes according to plan.

“If the trials go ahead, farmers and anybody else contemplating becoming involved should have comprehensive insurance.

“However, the Association understands that the final number of farmers who actually participate in the trials will be small," Mr Peters concluded.