ARGIS taps farm insurance capacity provider in market return
ARGIS taps farm insurance capacity provider in market return | Insurance Business Australia
Insurance News
ARGIS taps farm insurance capacity provider in market return
Business goes live with relaunch after HDI exit
Insurance News
By
Roxanne Libatique
ARGIS Underwriting (ARGIS) has returned to providing farm insurance after pushing pause in April when its long running capacity provider ceased to underwrite its product.
The ARGIS farming risk relaunch, effective 9 August 2023, sees capacity come from Pacific International Insurance (Pacific).
HDI Global Specialty had been AGRIS’ capacity provider for more than five years, as part of an agreement that expired earlier in 2023.
ARGIS to maintain focus on farm insurance for small to mid-sized risks
With the capacity backing of Pacific, ARGIS will now continue its focus on small to medium-sized farming risks, including cropping, farm building and contents, and machinery breakdown, the business said this week in a press release.
“We’re incredibly excited to step into this new era for ARGIS. We’ve been arranging comprehensive cover for farmers and primary producers across Australia for nearly 30 years, and we’re looking forward to the next 30,” said ARGIS underwriting manager Peter Morsley.
Steadfast Risk Group’s in-house claims service, Steadfast Claims Solutions, will manage claims. Steadfast Group has a shareholding in ARGIS.
“Our experienced team of underwriters has a rare understanding of the primary industry and its challenges and look forward to providing the same level of expertise and service brokers and their clients,” Morsley said.
“Despite the changing landscape of farm insurance around the country, there are minimal changes to the product wording and risk appetite. This was a huge consideration for us and formed an important part of our decision to partner with Pacific.”
Have a view on ARGIS’ relaunch and farm insurance in Australia? Leave a comment below.
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