(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.”
It's too early to estimate the extent of the damage as producers are just starting to call in with flooding reports, Jaques said today on a call with reporters. Parts of Saskatchewan and Manitoba are experiencing severe flooding after as much as 200 millimeters (8 inches) of rain fell last weekend. Fifty-four municipalities in Saskatchewan have declared a state of emergency, Colin King, the province's deputy commissioner of emergency management and fire safety, said on the call.
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