Under the new agreement, Argis will focus on small to medium-sized farming risks, including coverage for farm buildings and contents, machinery breakdown, and cropping. The partnership aims to address the evolving needs of Australian farmers by providing tailored insurance solutions that reflect the unique challenges faced by the agricultural sector.
Peter Morsley, Underwriting Manager at Argis, emphasized the continuity in product offerings despite changes in the insurance landscape. 'This was a huge consideration for us and formed an important part of our decision to partner with Pacific,' he stated. '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.'
The collaboration has been well-received within the insurance brokerage community. Frans du Plessis, Director of Grace Insurance, noted that the partnership represents a significant advancement in agricultural insurance. 'This will provide us with potentially more solutions for our agricultural clients,' he said. 'This represents a leap forward in the agricultural insurance space and will undoubtedly result in insurance solutions that are not only better aligned with the unique challenges faced by farmers but also more accurately priced.'
Steadfast Claims Solutions will manage claims for Argis Insurance under the new arrangement, ensuring a streamlined process for policyholders. Pacific International Insurance, owned by South Africa's Badger International, underwrites a range of products in Australia and New Zealand, including PD Insurance and Blue Badge Insurance, an Australian disability insurance specialist.
This partnership is particularly timely, as Australian farmers have been grappling with rising insurance premiums due to factors such as increased frequency of natural disasters and inflation. By securing new capacity and focusing on comprehensive coverage, Argis and Pacific International aim to provide farmers with reliable and cost-effective insurance solutions tailored to their specific needs.
