Crop hail payouts down in Saskatchewan for 2017

Total payout to Saskatchewan producers for hail damage was down in 2017.

The Canadian Crop Hail Association (CCHA) said Monday total hail payments for the year were just over $48 million, a decrease of 61 per cent from 2016 when $128 million in hail payments were made.

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Hail frequency was down nearly 44 per cent from the five-year average, and the five-year hail severity index decreased roughly 10 per cent.

CCHA said the most expensive storm dates were July 20 and 21, when 1,100 claims were made totaling $14.9 million.

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The association said the overall reported loss ratio in 2017 was 30 per cent compared to 73 per cent the previous year.

CCHA said continued average industry losses and competitive pressures likely contributed to a rate decline, with premiums down five per cent for the year.