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Crop Insurance Claims Expected to Soar After Canadian Farm Flooding

Saskatchewan, Canadas biggest producer of wheat and canola, expects insurance payouts on crops to increase after floods wiped out acreage.

By Jen Skerritt, Bloomberg | Updated on July 03, 2014

(Bloomberg) — Saskatchewan, Canada’s biggest producer of wheat and canola, expects insurance payouts on crops to increase after floods wiped out acreage.

“It’s a very large area that’s impacted, so we expect to get a number of claims,” said Shawn Jaques, the chief executive officer of Saskatchewan Crop Insurance Corp., a government-owned company based in Melville, Saskatchewan. “There will be a large number of producers that had their crops seeded, and it’ll be flooded out.”

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