11 August 2016 (02:12 UTC-07 Tango 01) 21 Mordad 1395/07 Dhu I-Qa’da 1437/09 Bing-Shen 4714
“And the storms just keep on coming, Mother Nature is your best friend or your worst enemy.”-Nikki Booth, Agriculture Financial Services Corporation
Lack of rain or massive hail storms, some that also hit parts of the United States, wiped out many of Canada’s Alberta farms! As of 01 August 2016, 7-thousand and three insurance claims have been filed, only about half are currently being examined by insurance adjusters. As many as 3-hundred farms were hit by crop destroying weather right before harvest.
It’s expected that insurance payouts for hail or rain damage will exceed the 2012 record payout of $450-million CAD, however that still doesn’t beat the insurance payouts for crops killed by drought. In 2015 almost $1-billion CAD was paid for drought damage!
In neighboring Saskatchewan hail damage insurance claims are up by 60%! The province of Manitoba also reporting “significantly higher than average” insurance claims.