The crop hail industry increased capacity in 2023 to accommodate another year of high demand, according to the Canadian Crop Hail Association.
Most companies had coverage available for producers until the deadline of Aug. 1.
“Our member companies successfully avoided the early sales closure we had in 2022 by increasing capacity to match very high sales volume between May and June,” said Scott McQueen, CCHA president. “I’m proud of the work we did this season and I encourage producers to contact a CCHA company soon to help with planning for next year.”
The industry provided more than $18 billion in coverage across the prairie provinces.
In Alberta, producers received $357 million in insurance payments, including the Agriculture Financial Services Corporation crop hail endorsement. Producers received $76.9 million in Saskatchewan and $54.3 million in Manitoba.
“We thank the producers who grow the food we rely on and our adjusters who responded to another year of high market demand and made sure farmers received payments quickly after claims,” McQueen said. “We look forward to partnering with producers to support another strong season next year.”
CCHA members have completed final hail damage claims.