YieldShield, was launched by crop insurance specialist, Primacy Underwriting Agency.
A first of its kind in a non-subsidised agricultural insurance market, NSW grain growers can now insure against yield loss due to water stress caused by too much or too little rain – quoted the Land.
The water stress insurance product, YieldShield, was launched by crop insurance specialist, Primacy Underwriting Agency (Primacy), which is underwritten by Allianz Australia Insurance.
Steven Green, Managing Director, Primacy, said: “The long-awaited water stress cover has been made possible by three-year collaboration with Australia’s agricultural production researchers and crop modellers at the Agricultural Production Systems Research Unit (APSRU) in Toowoomba, Qld. The benefits to growers of this innovative insurance product includes being able to insure against insufficient rainfall or water logging for the first time.”
Primacy expertises in the underwriting of agricultural insurance products in the Australian and New Zealand markets. The company develops risk solutions, which can service the risk management needs of agri-business interests.