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AFSC refunds hail premiums

AFSC refunds hail premiums

Alberta producers can claim refunds until Sept. 11

 
Staff Writer
Farms.com

The Agriculture Financial Services Corporation (AFSC) is refunding hail premiums this year. Producers in Alberta who have crops deemed non-viable because of excessive moisture can qualify for the refund.

AFSC received hail damage claims for 3.5 million acres to date in 2020, which is average for this time of year. Although 2020 isn’t the first time AFSC has offered this refund, it isn’t common practice, said Jackie Sanden, an AFSC product coordinator for insurance.

“Producers have faced some pretty serious challenges dealing with consecutive years of excessive moisture, particularly in the more northern areas of the province. We want to recognize the hardship and stress that (the situation) puts farmers under and we had a way to provide some meaningful support to assist them,” she told Farms.com.

Producers who have hail endorsement or straight hail insurance and have more than 10 per cent of their acres flooded and non-viable are eligible for the refund, said Sanden.

The non-viable condition of the crop must “be as a result of the excessive moisture or flooding that's occurred in 2020,” she said. “If we've already paid a hail claim on those acres, we won't refund the premium on them. So, they have to be acres that producers haven't claimed on before.”

AFSC has received a lot of positive feedback from its decision, said Sanden.

“We've received phone calls or emails from clients saying, ‘Thank you for this, it makes a really big difference,’ and we've also had positive feedback from industry groups,” she said.

AFSC will issue refunds as part of the harvested production report and post-harvest activities. Producers can access applications online and AFSC will accept the forms until the end of the day on Sept. 11. Producers can also contact their local branch office if they have additional questions.

Olga Ivanova/iStock/Getty Images Plus photo

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