Farmers wishing to access multi-peril crop insurance can now do so through Farmers First, a Darling Downs based business launched to provide income protection to grain producers from this year.
The business is driven by former Queensland grain growers, Rowell Walton, Rodney Hamilon and well-known grain trader and former AWB state manager, John Francis.
Farmers First now has a number of customers in their system and have announced two multi-peril insurance providers to effectively deliver an affordable and reliable products.
Insurance brokers SureSeason Revenue Multi-Peril Crop Insurance and Latevo’s Farm Income Protection (FIP), are both on-board, while Farmers First is negotiating with offer insurance brokers.
SureSeason’s package, underwritten by Lloyd’s is is a revolutionary revenue multi-peril crop insurance protection product that protects grower returns against unexpected events.
SureSeason are committed to providing growers with a new industry preferred Revenue Multi-Peril protection product, a product that provides personalised flexible solutions tailored to your specific risk.
Latevo, also underwritten by Lloyd’s has backed up its 2017 pledge to re-enter the market in 2018, with a more cost-effective and comprehensive farm income protection solution than before.
Their new offering, known as Latevo Farm Income Protection (FIP), comes in at no more than the cost of a summer spray, which is exactly the price range farmers and their representatives have been calling for. Price points are as low as $14/hectare, with a maximum of $26/ha for sizeable coverage of up to 90 per cent of average crop income.
Mr Hamilton said farmers needed to know the point of difference of each of the products so farmers can make good and informed decisions.
The window of opportunity for farmers to take out crop insurance is quickly closing and is expected to be April 25.
Mr Hamilton said farmers interested should head to the farmersfirst.net website for more information.