Entries by Jon Ostendorff

Final report: Hail insurance industry reports near-record claim payments in 2021

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.

Storms damage crops as harvest continues

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.