- Significant Reduction in Farm Liability Claims Reflects Enhanced Safety Practices
Recent data from WFI Insurance indicates a substantial 75% decrease in farm liability claims over the past year, suggesting that Australian farmers are adopting more effective safety measures. This decline is particularly notable in incidents involving falls from height, which have reached their lowest level in four years.
- Steadfast Unveils Prevail: A New Era in High Net Worth and Farm Insurance
In a significant development for the Australian insurance landscape, Steadfast has announced the launch of Prevail, a new specialist agency designed to cater to high net worth individuals and the farming sector.
- Harland Green Launches Comprehensive All-Risk Insurance for Large-Scale Farms
Harland Green, a newly established Lloyd's coverholder, has introduced an all-risk farm insurance package specifically designed for large commercial farming operations in Australia. This initiative aims to address the complex and evolving needs of the agricultural sector by offering comprehensive coverage that encompasses various aspects of farm operations.
- Allstate Underwriting and Mitsui Sumitomo Join Forces to Strengthen Farm Insurance Offerings
Allstate Underwriting Agencies has announced a strategic partnership with Mitsui Sumitomo Insurance (MSI) to enhance its capacity in providing insurance solutions for medium, small, and hobby farms across Australia.
- Rural Affinity and Munich Re Strengthen Agricultural Insurance in Australia
In a significant development for Australia's agricultural sector, Rural Affinity has renewed its partnership with Munich Re Specialty – Global Markets under a new five-year agreement. This collaboration, which began in 2006, is set to enhance the availability and scope of agricultural insurance products across the country.
- WFI Insurance Highlights Significant Drop in Farm Liability Claims
WFI Insurance has reported a notable decrease in farm liability claims across most categories, signaling a positive trend in safety practices within the Australian agricultural sector.
- Elders Insurance Highlights Increased Summer Storm Risks for Farmers
Elders Insurance is urging Australian farmers to prepare for another damaging summer, with claims data revealing the scale and financial impact of storm activity across the country's agricultural regions.
- Preparing for Summer Storms: Elders Insurance's Advice to Farmers
As the Australian summer approaches, Elders Insurance has issued a cautionary advisory to farmers, emphasising the heightened risk of storm-related damages during this season. Recent data indicates a significant increase in insurance claims due to summer storms, underscoring the need for proactive measures to safeguard agricultural assets.
- New Partnership Offers Insurance Savings for Sustainable Farmers
In a significant move towards promoting sustainable agriculture, WFI Insurance has partnered with AgCarE to offer premium reductions to farmers who achieve AgCarE certification. This collaboration aims to enhance financial, environmental, and social outcomes for Australian farmers and rural communities.
- IAG Highlights Climate Change's Impact on Rising Insurance Costs
Insurance Australia Group (IAG) has issued a warning to Australians, indicating that home insurance premiums are expected to rise due to the increasing frequency and severity of extreme weather events, a trend attributed to climate change.
- WFI Insurance and Farmsafe Australia Join Forces to Boost Farm Safety Standards
In a significant move to enhance safety within the Australian agricultural sector, WFI Insurance has partnered with Farmsafe Australia. This collaboration is designed to raise awareness about farming hazards and advocate for the adoption of safer work practices among farmers.
- Argis Underwriting Partners with Pacific International to Expand Farm Insurance Offerings
Argis Underwriting has announced a new partnership with Newcastle-based Pacific International Insurance, enabling the company to resume offering farm insurance coverage across Australia.
- WFI Insurance Reports Significant Decline in Farm Liability Claims
WFI Insurance has reported a notable decrease in farm liability claims across most categories, signaling a positive trend in safety practices within the Australian agricultural sector.
- WFI Insurance Joins Forces with Farmsafe Australia to Boost Farm Safety Standards
In a significant move to enhance safety within the Australian agricultural sector, WFI Insurance has announced a partnership with Farmsafe Australia. This collaboration is designed to raise awareness about farming hazards and advocate for the adoption of safer work practices among farmers.
- Argis Underwriting Partners with Pacific International to Expand Farm Insurance Offerings
Argis Underwriting has announced a new partnership with Newcastle-based Pacific International Insurance, enabling the company to resume offering farm insurance coverage across Australia.
- WFI Insurance Reports Significant Decline in Farm Liability Claims
WFI Insurance has reported a notable decrease in farm liability claims across most categories, signaling a positive trend in safety practices within the Australian agricultural sector.
- WFI Insurance Rewards Sustainable Farming with Premium Discounts
In a significant move towards promoting sustainable agriculture, WFI Insurance has announced a new initiative offering premium discounts to farmers who obtain AgCarE certification. This program, developed by AgForce, aims to recognise and reward farmers implementing eco-friendly practices on their properties.
- IAG and Ag Guard Forge Partnership to Elevate Crop Insurance for Australian Farmers
In a significant development for Australia's agricultural sector, Insurance Australia Group (IAG) has announced a strategic partnership with Ag Guard, a specialist rural underwriting agency. This collaboration will see Ag Guard managing the underwriting for IAG-owned CGU and WFI's crop insurance portfolios starting June next year.
- AFCA Mandates Higher Payout for Farmers in Flood Damage Dispute
The Australian Financial Complaints Authority (AFCA) has recently ruled in favour of a farming group, mandating that insurer Achmea increase its payout for flood damage claims. This decision underscores the critical importance of thorough and expert assessments in the insurance claims process.
- WFI Insurance's $250,000 Donation Supports Flood-Affected Queensland Farmers
In response to the catastrophic flooding that has devastated parts of western Queensland, WFI Insurance has stepped forward with a substantial donation of $250,000 to Rural Aid.
- AFCA Supports Significant Home Insurance Premium Increase Based on Updated Flood Risk Assessment
The Australian Financial Complaints Authority (AFCA) has recently upheld a substantial increase in home insurance premiums for a property, attributing the rise to updated assessments of flood risk.
- Revolutionising Crop Insurance: DAS Unveils Cutting-Edge Data Tool
Digital Agriculture Services (DAS) has introduced an innovative crop insurance solution in Australia, leveraging machine learning, automapping, and geospatial data to improve policy accuracy. This tool is designed to assist insurers, underwriters, brokers, and loss adjusters by precisely locating insured paddocks and identifying crop types, yields, and other critical details.
- Significant Drop in Farm Liability Claims Reflects Improved Safety Measures
WFI Insurance has reported a notable decrease in farm liability claims across most categories, including a 75% reduction in falls from height over the past year. This decline suggests that Australian farmers are adopting more effective safety practices, leading to fewer accidents and injuries.
- IAG and Ag Guard Forge Partnership to Elevate Crop Insurance for Australian Farmers
In a significant development for Australia's agricultural sector, Insurance Australia Group (IAG) has announced a strategic partnership with Ag Guard, a specialist rural underwriting agency. This collaboration will see Ag Guard managing the underwriting for IAG-owned CGU and WFI's crop insurance portfolios starting June next year.
- WFI Insurance and AgCarE Collaborate to Incentivize Sustainable Farming Practices
In a move to promote sustainable agriculture, WFI Insurance has partnered with AgCarE, a certification program developed by AgForce, to offer premium reductions to farmers who achieve AgCarE certification. This collaboration aims to enhance financial, environmental, and social outcomes for Australian farmers and rural communities.
- Diversification in Small Farms Creates New Avenues for Insurance Brokers
The landscape of Australian agriculture is undergoing a significant transformation as small commercial farms increasingly diversify their operations to enhance income and sustainability. This shift presents both challenges and opportunities for insurance brokers, as new ventures introduce complex risk management needs.
- Urgent Call for Enhanced Farm Safety Amid Rising Fatalities
In 2024, Australian agriculture faced a significant safety crisis, recording 72 farm-related fatalities—the highest in over two decades. This alarming statistic underscores the urgent need for enhanced safety protocols and awareness within the farming community.
- Soaring Insurance Costs Challenge Australian Farmers
Australian farmers are confronting a significant surge in insurance premiums, a trend largely attributed to the increasing frequency and severity of extreme weather events. Over the past few years, many farmers have reported that their insurance bills have more than doubled, with annual premiums exceeding $100,000.
- Revolutionising Crop Insurance with Satellite Technology
In a significant advancement for Australian agriculture, Insurance Facilitators (IF), a family-owned underwriting agency, has introduced a data-driven crop insurance solution leveraging satellite technology. This innovative approach aims to address longstanding challenges in the industry, including premium leakage and risk accumulation, by providing more accurate and efficient risk assessments.
- WFI and AgCarE Join Forces to Reward Sustainable Farming Practices
In a significant move towards promoting sustainable agriculture, WFI Insurance has partnered with AgCarE, a certification program developed by AgForce, to offer premium reductions to farmers who achieve AgCarE certification. This collaboration aims to enhance financial, environmental, and social outcomes for Australian farmers and rural communities.
- Rising Insurance Costs Challenge Australian Farmers as Extreme Weather Intensifies
Australian farmers are confronting a significant surge in insurance premiums, a trend largely attributed to the increasing frequency and severity of extreme weather events. Over the past few years, many farmers have reported that their insurance bills have more than doubled, with annual premiums exceeding $100,000.
- Diversifying Small Farms Open New Avenues for Insurance Brokers
The landscape of Australian agriculture is evolving as small commercial farms increasingly diversify their operations to enhance income and sustainability. This shift presents both challenges and opportunities for insurance brokers, as new ventures introduce complex risk management needs.
- NRMA's Departure from Farm Insurance: What It Means for Australian Farmers
In a significant shift within the Australian insurance landscape, NRMA has announced its withdrawal from the farm insurance sector, ceasing the sale of new policies as of July 1, 2025. This decision leaves many farmers seeking reliable alternatives to safeguard their livelihoods.
- Diversification Drives New Insurance Needs for Australia's Small Farms
In the evolving landscape of Australian agriculture, small commercial farms are increasingly diversifying their operations to enhance income and sustainability. This shift, while offering economic benefits, introduces new complexities in risk management and insurance coverage, presenting both challenges and opportunities for insurance brokers.
- Satellite Technology Revolutionizes Crop Insurance for Australian Farmers
In a significant advancement for Australian agriculture, Insurance Facilitators (IF), a family-owned underwriting agency, has introduced a data-driven crop insurance solution leveraging satellite technology. This innovative approach aims to address longstanding challenges in the industry, including premium leakage and risk accumulation, by providing more accurate and efficient risk assessments.
- ASIC Takes Legal Action Against RACQ Insurance Over Misleading Premium Comparisons
The Australian Securities and Investments Commission (ASIC) has initiated Federal Court proceedings against RACQ Insurance, a subsidiary of Insurance Australia Group (IAG), alleging that the insurer misled over 570,000 customers through deceptive premium comparison pricing in renewal notices issued between September 2019 and December 2024.
- Surge in Farm Impact-Related Claims Raises Safety Alarms
WFI Insurance has reported a significant 44% increase in farm impact-related claims over the past year, marking the highest level in four years.
- Rising Insurance Premiums for Farm Machinery Amidst Increasing Extreme Weather Events
Australian farmers are grappling with a significant rise in insurance premiums for farm machinery, driven by the increasing frequency and severity of extreme weather events. Some farmers have reported that their insurance bills have more than doubled over the past few years, with annual premiums exceeding $100,000.
