Procrop Insurance is an Underwriting Agency specialising in providing innovative Crop Insurance solutions to the Australian farming industry. Crop Input Protection covers the farmers financial loss when the total cost of their production exceeds the earnings received from the harvest at their insured crop location.
There are two triggers that need to be met in order for a claim to be made against the policy:
- The first being if you receive less than 50% of the agreed historical mean average rainfall (strike) for your insured crops (within a specified GPS co-ordinate) during
the designated ‘Flowering Period’.
- The second trigger required is the calculated difference between the agreed Costs of Production and the final value of the total Earnings Received after the harvest or
otherwise of the insured crop.
ProCrop Insurance is 100% underwritten by Australia’s leading rural insurer CGU Insurance and owned by principals who are country people, with strong life-time bonds to rural Australia. To learn more about this ground-breaking new Crop Insurance product, visit the ProCrop Insurance website to learn how rainfall is measured and to access important policy wordings.
Contact Insurance House today to be put in touch with a specialist ProCrop broker.