Average Year For Hail Payouts In Alberta

In its final report of the season, the Canadian Crop Hail Association says Alberta farmers are receiving roughly $38 million in hail-claim payouts on a total of over 2,500 losses. This is for the hail insurance claims over and above crop insurance endorsements. The association said payments in 2010 are close to the 10-year average in Alberta. However, the entire hail season was busy from June to September. One of the larger and more damaging storms was in mid-July affecting Strathmore, Hussar and other areas. About $62 million was collected in premiums, so the loss ratio is around 61 per cent. This is a reduction from the previous two years. In 2009, the loss ratio was 83 per cent on payments of $49 million. In 2008, the loss ratio was 147 per cent. Overall for the Prairies, payouts for 2010 crop hail claims total more than $155 million on over 16,000 claims. By comparison, payouts for 2009 totalled only $76 million, while payouts for 2008 totalled a record-high $341 million.

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