The Canadian Crop Hail Association (CCHA) is reporting the lightest year for claims in Western Canada since 2009.
Claims produced insurance payouts of $96 millon on just over 8600 claims in the three prairie provinces. Producer premiums were $286 million, which resulted in an industry loss ratio of 33.8 per cent.
"It was a steady, small storm year, but didn't add up to make a lot of damage," says Rick Omelchenko, CCHA chair.
The dry weather in many southern and central areas of Saskatchewan likely reduced the numbers of hail claims and the amount of money paid out. The crop hail insurance payouts in our province were just over $48 million compared to $125 million in 2016.
Olmelchenko indicates crop hail insurance premiums could decline next year.