“The temporary cover provided by insurers is solid, but doesn’t always reflect the crop’s potential yield or value per bale. Interestingly some of these losses were incurred in southern NSW which historically has been very low risk in terms of hail frequency and severity,” AgriRisk cotton specialist, Dee McCallum said.
“The total season’s losses are estimated at more than $50 million, and while insurers have had a few years of relatively low hail activity, this season’s losses will increase their focus on correctly rating the risk,” Dee said.
Later in the season a number of notable losses were incurred
• St George on 24 December 2015 approx 1,200 ha destroyed
• Darling Downs on 23 December- approx 5,0000ha destroyed 50 growers were impacted
• Bellata 29 January 2016 approx 5,000ha destroyed the Super storm cell was estimated at 10 – 15km wide