New specialty MGA launches

New specialty MGA launches

New specialty MGA launches A new managing general agent that will specialize in serving Midwest non-GMO crop growers, as well as traditional crop-insurance markets, has launched in Iowa.

Crop Pro Insurance has received approval as an MGA for an A-rated insurance company from the US Department of Agriculture. That approval makes Crop Pro one of only 16 companies eligible to participate in the Federal Crop Insurance Program.

Celebrate excellence in insurance. Nominate a worthy colleague for the Insurance Business Awards!

“First and foremost, we are committed to serving the needs of the traditional crop insurance market,” Billy Rose, chairman of Crop Pro Insurance, told the Des Moines Business Record. “At the same time, agriculture is evolving as new technologies come to market and emerging markets are developing.”

Rose said that providing dependable coverage for non-genetically-modified crops would help the US grab a bigger piece of the growing non-GMO pie.

“Eighty percent of non-GMO products consumed in the United States are imported from other areas of the world, and new biologicals can replace the use of existing crop-protection products,” he said. “In order to position the United States as a leader in the non-GMO and sustainable markets, we have to provide growers the support and income assurance they need to confidently embrace new technologies more rapidly.”

Crop Pro will offer both federal crop insurance and private insurance, focusing initially on 13 Midwestern states, according to the Business Record. Working with a network of independent agents, it will begin offering insurance products in time for the spring 2018 growing season.

Related stories:
Corn crop insurance could save farmers from likelihood of massive US crop failure
Crop fraud farmers in six-figure settlement