First Acre Insurance announces partnership with Mutual Fire Insurance
First Acre Insurance announces partnership with Mutual Fire Insurance | Insurance Business Canada
Insurance News
First Acre Insurance announces partnership with Mutual Fire Insurance
Move aims to boost capacity for brokers
Insurance News
By
Terry Gangcuangco
Managing general agent First Acre Insurance has secured further capacity with the arrival of Mutual Fire Insurance as its latest partner.
With its expanded list of capacity providers, the MGA now offers up to $25 million in property and liability coverage, supported by Red River Mutual, Mutual Fire Insurance, and Aviva Canada.
Additional capacity is provided by ARAG Legal Solutions and Intact Insurance Company for other coverage lines, while The Commonwell Mutual Insurance Group is also playing a significant role in supporting First Acre’s growth.
Commenting on the company’s continued progress since launching early this year, chief executive Robin Shufelt said: “We are pleased to continue adding capacity partners to our portfolio and achieve up to $25 million.
“When we reached out to brokers for challenges they face, capacity was at the top, especially as building and machinery values continue to increase. We will continue to look for ways to assist farmers to get the coverage they need.”
The partnership with Mutual Fire Insurance is expected to bring further benefits to Canadian farmers, many of whom have struggled with the complexities of securing adequate insurance coverage.
Clare Stewart, chief operations officer at Mutual Fire Insurance, noted: “Farmers in Canada have faced many obstacles over the last few years, and we feel insurance shouldn’t be one of them.
“Mutual Fire Insurance is excited to have partnered with and provide capacity for First Acre as they strive to provide coverage for farmers who may have challenges in a traditional broker office due to their size and capacity.”
Stewart added: “The First Acre team is full of knowledge and is fully committed to the mutual success of brokers, insurers, and policyholders alike. We look forward to the mutually rewarding relationships they will bring to the industry.”
Founded as a response to the evolving demands of modern agriculture, First Acre operates as both an insurtech firm and a managing general agent, focusing on delivering innovative solutions tailored to today’s farming sector. Its proposition includes advanced technology that allows brokers to quote, bind, and issue policies in 30 minutes.
Shufelt highlighted the importance of collaboration in their mission, stating: “All of our partners understand the opportunity to change agriculture insurance, and they play an important role in doing just that. Without these partnerships, we would not be able to provide farmers with insurance coverage that is better suited to their evolving needs.”
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