The Canadian Crop Hail Association estimates prairie farmers received $164 million for claims on more than 15,000 losses in 2011.
In a final report issued today, the association said producers paid premiums worth $268 million for an industry-wide loss ratio of just more than 61 percent.
There were more losses last year, but payouts were just more than $155 million.
Farms are growing larger and payouts per loss are larger, too.
“As well, there are now higher per acre limits for insurance coverage,” said the association. “Loss per claim is also affected by the severity and timing of storms.”
The past few years have seen extremes, A record high $341 million was paid out in 2008 while the next year saw the lowest amount in recent memory at $76 million.
Alberta’s year was considered average, with $36 million paid on nearly 2,500 losses.
Losses increased in Saskatchewan, with 11,800 claims and payouts of nearly $121 million.
Manitoba farmers experienced less damage than usual from hail storms. Approximately $6.9 million was paid on 1,100 losses.
