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Hail Payouts Total Nearly $164m

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The Prairie Crop Hail Association says 2011 crop hail claims total nearly $164 million on over 15,000 losses, compared to 16,000 claims and a payout of $155 million. in 2010. A total of $268 million was collected from producer premiums for an industry-wide loss ratio of just over 61 per cent. Alberta farmers will receive over $36 million in payouts on nearly 2,500 losses (over and above crop insurance endorsements). In 2010, Alberta farmers received roughly $38 million in hail payouts on over 2,500 losses. Over $68 million was collected in 2011 premiums, for a loss ratio of approximately 53 per cent.

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