Of course the MPCI market is complicated with a number of products providing coverage for different perils and crop types across different regions. This makes it quite difficult for growers to understand their options and more importantly the differences between them. In addition there has been a big difference between growers and insurers in terms of premium expectations and as a consequence the take up by growers has been less than 1%.
One of the biggest stumbling blocks has been the time and effort required to get a quote. This year Latevo has largely overcome this issue by allowing growers to get premium indications instantly via their APP. This has really changed the game and will force the other insurers to focus on their traditional application and quotation process. If you haven’t already downloaded the APP, you can do so here: www.latevo.com/download-latevo-app/
Note: If you decide to get indications via the App can you specify AgriRisk as your Broker so we can assist you through the product review process.
While most MPCI products will close off this month, Latevo will remain open until July.
If MPCI is simply too expensive, too complicated or too much cover for you and you’re only worried about a few key perils then you will be pleased to know that Agririsk is now working on products that will manage the impact of specific perils occurring during the course of the season. This could include insufficient rainfall during the growing season, frost, excessive rainfall at harvest or excessive heat. You will hear more about these products as the season progresses.
The team at AgriRisk wishes you all the best for that desperately needed rainfall and a successful 2018 winter cropping season.