Farmers In Alberta See Crop Insurance Costs Rise Sharply

Farmers in Alberta are seeing their crop insurance costs rise sharply due to extreme weather events like droughts, hail, and floods. Before the pandemic, a typical farmer paid about $30,000 a year for insurance, but now that cost has jumped to $92,000. This increase is linked to severe weather, which has led to record insurance payouts. In 2021, Alberta farmers received a $2.1 billion payout. Experts say climate change is driving these higher costs, and there are calls to tie insurance to sustainable farming practices to help manage future risks.