Billions Protected by Crop Insurance in 2024

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With strong crop pricing to start the year and high input costs, Prairie Province producers purchased more than $10 billion in crop hail coverage from members of the Canadian Crop Hail Association (CCHA) to protect their growing crops.

“This matched the record amount of liability set in 2023,” said Scott McQueen, CCHA president.

With coverage in place, damaging storms resulted in nearly 11,000 claims and payouts of 230 million dollars to producers.

“The season had an unusually slow start but quickly picked up steam as the season progressed,” said McQueen. “We saw severe crop damage in late August right up until the end of September. The week of August 19-25 produced more than 2800 claims and over 1 million in damaged acres.”

“There is always significant pressure to complete claims timely, especially late in the season.  Farmers are under a time crunch with the ever-changing prairie weather to get their crops in the bin,” McQueen added. “Despite thousands of late season claims, member companies were able to complete all claims allowing producers to continue their dedicated work in the field.”

“As an association we are proud to have helped prairie farmers in 2024, and we look forward to being there again in 2025,” said McQueen. “I encourage growers to contact a CCHA member company today if you have any questions regarding the 2024 season or want to start planning for 2025.”

For more information and past reports: cropinsuranceincanada.org.

The Canadian Crop Hail Association (CCHA) has been serving the crop insurance industry since 1915. It is a member-driven organization that represents the interests of the Canadian Crop Hail managing general agencies and insurance companies. These private and government organizations together provide a risk management tool to the farmers across Canada. Members are Municipal Hail Insurance, AG Direct Hail Insurance Ltd, Agriculture Financial Services Corporation (Alberta), Canadian Hail Agencies, Co-operative Hail Insurance Company, Manitoba Agricultural Services Corporation, Rain and Hail Insurance Service Ltd., New Brunswick Agricultural Insurance Commission and Palliser Insurance Company Ltd.

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