A new business, Farmers First, has been launched to provide income protection to grain producers for 2018.
The business is being driven by former Queensland grain growers, Rowell Walton and Rodney Hamilton and well-known grain trader and former AWB state manager, John Francis.
The trio have been in negotiations with several income protection and multi-peril insurance (MPI) providers to effectively deliver an affordable and reliable product.
They believe providing access to multi-peril insurance gives dryland farmers an opportunity to operate with greater security. The product would cover farmers for perils such as flooding, drought, frost, fire and hail.
“This will allow farmers to sleep at night and those who lend money to farmers will too, as they will know their bills will get paid,” said Mr Francis.
Mr Walton, who lost his family farming business following a run of bad seasons, has long been an advocate of MPI. Their preferred insurance provider will be named soon.