Crop Insurance Today Second Quarter 2022 - 30

Storm
Activity
try loss ratio of 134 percent compared to 2020's
65 percent. Alberta followed with a 97 percent
loss ratio, compared to 75 percent in 2020. Manitoba
was the only province to record a positive
year with a loss ratio of more than 26 percent.
The isolated severe storm tracks brought
moisture to localized area producers, but the
severity left little if any crop, or time for crop
recovery, to an already dismal production.
The Canadian prairie storm season runs June
through October. This year June and July saw limited
storm activity with active storm days down
by about 20 percent overall compared to the fiveyear
average. August activity picked up becoming
more average, but September, with harvest in full
swing across the prairies, recorded lower than
average activity. Despite the lower activity across
most of the summer, claim frequency (claims to
policy) ended up being down by only four percent
compared to the five-year average.
Alberta Crop-Hail results clouded
with storm activity
Alberta's storm activity resulted in heavier
than average loss expense for the industry. The
claim to policy ratio was 25 percent above the
five-year average and average cost per claim saw
an increase of more than 21 percent of the fiveyear
average. The industry reported nine major
storm days in July and August, resulting in
more than 1,200 claims and costing more than
$56 million.
Alberta's costliest day was August 31 with
more than 600 claims resulting in over $20 million
being paid. Following a close second was
July 22 with 495 claims and a total payout of
over $17 million. Total hail payments for 2021
were more than $82 million, the most expensive
since 2016.
Total sums insured saw a small increase
from 2020, with average rates charged reporting
a slight increase, likely due to continued declining
industry results.
Saskatchewan records largest crop
hail payouts since 2008
This year's hail losses rivaled the worst ever
recorded for the industry, with loss payouts of
more than $224 million. Only 2008 recorded
higher claim payouts. This resulted in an industry
loss ratio more than 130 percent.
The season had an early start on June 5 with
a west central storm. However, the reminder of
the summer saw limited but costly storm dates.
30 SECONDQUARTER2022

Crop Insurance Today Second Quarter 2022

Table of Contents for the Digital Edition of Crop Insurance Today Second Quarter 2022

Crop Insurance Today Second Quarter 2022 - Cover1
Crop Insurance Today Second Quarter 2022 - Cover2
Crop Insurance Today Second Quarter 2022 - 1
Crop Insurance Today Second Quarter 2022 - 2
Crop Insurance Today Second Quarter 2022 - 3
Crop Insurance Today Second Quarter 2022 - 4
Crop Insurance Today Second Quarter 2022 - 5
Crop Insurance Today Second Quarter 2022 - 6
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Crop Insurance Today Second Quarter 2022 - Cover3
Crop Insurance Today Second Quarter 2022 - Cover4
https://www.nxtbook.com/allen/cint/56-2
https://www.nxtbook.com/allen/cint/56-1
https://www.nxtbook.com/allen/cint/55-4
https://www.nxtbook.com/allen/cint/55-3
https://www.nxtbook.com/allen/cint/55-2
https://www.nxtbook.com/allen/cint/55-1
https://www.nxtbook.com/allen/cint/54-4
https://www.nxtbook.com/allen/cint/54-3
https://www.nxtbook.com/allen/cint/54-2
https://www.nxtbook.com/allen/cint/54-1
https://www.nxtbook.com/allen/cint/53-4
https://www.nxtbook.com/allen/cint/53-03
https://www.nxtbook.com/allen/cint/53-02
https://www.nxtbook.com/allen/cint/53-01
https://www.nxtbook.com/allen/cint/52-04
https://www.nxtbook.com/allen/cint/52-03
https://www.nxtbook.com/allen/cint/52-02
https://www.nxtbook.com/allen/cint/52-01
http://www.brightcopy.net/allen/cint/51-04
http://www.brightcopy.net/allen/cint/51-03
http://www.brightcopy.net/allen/cint/51-02
http://www.brightcopy.net/allen/cint/51-01
http://www.brightcopy.net/allen/cint/50-04
http://www.brightcopy.net/allen/cint/50-3
http://www.brightcopy.net/allen/cint/50-2
http://www.brightcopy.net/allen/cint/50-1
http://www.brightcopy.net/allen/cint/49-4
http://www.brightcopy.net/allen/cint/49-3
http://www.brightcopy.net/allen/cint/may2016
http://www.brightcopy.net/allen/cint/february2016
http://www.brightcopy.net/allen/cint/november2015
http://www.brightcopy.net/allen/cint/september2015
https://www.nxtbook.com/allen/cint/may2015
https://www.nxtbook.com/allen/cint/february2015
https://www.nxtbook.com/allen/cint/november2014
https://www.nxtbook.com/allen/cint/september2014
https://www.nxtbook.com/allen/cint/may2014
https://www.nxtbook.com/allen/cint/february2014
https://www.nxtbook.com/allen/cint/november2013
https://www.nxtbook.com/allen/cint/august2013
https://www.nxtbook.com/allen/cint/may2013
https://www.nxtbook.com/allen/cint/february2013
https://www.nxtbook.com/allen/cint/november2012
https://www.nxtbook.com/allen/cint/august2012
https://www.nxtbook.com/allen/cint/may2012
https://www.nxtbook.com/allen/cint/february2012
https://www.nxtbook.com/allen/cint/44-4
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