The crop hail industry paid out near record payments on the prairies for 2021. Recording more than 12,000 claims, industry payments to prairie producers will total more than $322 million – an amount not seen since 2008. Producer premiums totaled more than $309 million for an industry loss ratio of 104 percent. This loss will impact the balance sheet of most participating companies.
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Extremely damaging storms resulted in near-record claims for farmers across Western Canada in 2021 despite a decrease in overall storm activity, according to the Canadian Crop Hail Association.
A series of severe storms produced hail as large as golf balls, high wind and a tornadic event that damaged crops across Western Canada, according to the Canadian Crop Hail Association.
Harvest continues across Western Canada with growers reporting minor storm damage and insurance adjusters moving quickly to finalize claims, according to the Canadian Crop Hail Association.
Storms damaged crops across much of Western Canada as harvest continues, according to the Canadian Crop Hail Association. The association is urging farmers to leave enough damaged crops in the field to allow adjusters to process claims.
Late July storms damaged crops across Western Canada with hail as large as golf balls, according to the Canadian Crop Hail Association. The storms occurred July 21-30.
Prairie farmers continue to insure their crops for hail damage at near record levels. 2020 was a below the 5-year average for claims but endured higher than average claim payments.
Members of the Canadian Crop Hail Association are proud to have helped farmers in Western Canada manage the risks of Mother Nature safely and effectively during the unprecedented 2020 season, the association’s president said.