NZI has confirmed it will enter into a new exclusive partnership with Australian rural underwriting agency Ag Guard.
This is a move aimed at strengthening the insurer’s rural product suite in the New Zealand broker market. The arrangement is expected to take effect in mid-2025.
Garry Taylor (pictured), executive general manager at NZI, said the collaboration is part of a broader effort to address evolving risks faced by New Zealand’s agricultural sector.
“The exclusive partnership with Ag Guard, which will commence mid-2025, reflects our dedication to providing farmers with effective insurance solutions that address the unique challenges faced by farmers and rural businesses in New Zealand,” he said.
He added that working with a specialist cover will enable the company to integrate advanced tools, agricultural knowledge, and bespoke cover into its rural offering.
Ag Guard, launched in 2013 and based in Australia, has built its business around providing technology-enabled insurance for agriculture.
Founders Alex Cohn and Ben Ko will now work exclusively with NZI to introduce their operations to New Zealand.
Cohn said the partnership gives the agency the opportunity to apply its expertise in agricultural risk and support farming communities in managing those exposures.
“We are thrilled to partner with NZI and its network of brokers to bring our specialised agricultural risk management expertise to New Zealand. This collaboration will enable us to provide comprehensive and tailored insurance solutions to New Zealand’s rural communities, helping them to manage risks more effectively while securing their livelihoods,” he said.
Once the agreement begins, new customers seeking rural insurance will be able to access Ag Guard products through NZI’s broker channels and business development team. Policyholders with existing NZI rural cover will be moved to Ag Guard’s offerings when their policies come up for renewal after the mid-2025 launch.
The announcement comes at a time when rural wildfire risk has been the focus of recent research.
A project led by University of Canterbury students and supported by Fire and Emergency New Zealand examined how vegetation patterns influence wildfire behaviour in the Canterbury region.
George Hamilton, who led the research, said his personal experience with wildfire during childhood motivated the study.
“I sort of watched it happening as the fire spread down from the foothills jumping across hedgerows and paddocks and eventually burnt itself down. That experience stayed with me and motivated my interest in this topic,” he told RNZ.
The study found that pine hedgerows were especially combustible, while some native species appeared to have lower flammability. Increasing the distance between hedgerows and rural buildings was also noted as a potential risk-reduction measure.
Hamilton said further research would benefit from more advanced data tools and broader geographic analysis.
Grant Pearce, a wildfire scientist with Fire and Emergency New Zealand, said that research projects led by students are valuable for introducing new methodologies into risk management.
“Those student projects are a great way to initiate new areas of research for organisations like ours. The students are up to date with the latest innovations and methodologies so they can offer a view that we may not otherwise think of ourselves,” he said.
Fire and Emergency New Zealand continues to advise landowners to manage vegetation and choose low-flammability species when landscaping around rural properties, particularly in regions with dry climates like Canterbury.
