Everest Re has struck a “strategic alliance” with Canadian crop insurance specialist GARS to extend covers through its Heartland Crop Insurance to US farmers.
GARS crop insurance products will be distributed via Heartland agents which Everest said offered “infrastructure and in-depth capabilities” to the partnership.
The new Heartland-GARS alliance will be effective for business beginning in the 2016 crop year, according to Everest Re.
“We are proud to partner with GARS as the only US crop insurance provider able to offer this innovative protection to US farming operations,” said Wade Shuler, president of Heartland Crop Insurance.
“This ground-breaking product provides the American farmer individualized protection specific to their own farm and insures all of a farmer’s variable inputs and a significant portion of their fixed costs as well,” said Shuler.
“We are excited to be at the forefront of this new venture and support its success with our broad agent network, leading claims services and strong balance sheet. We look forward to a long and beneficial relationship with GARS and their outstanding team,” he added.
For a detailed roundup of the most recent winter storm losses to hit the US property catastrophe market, read this feature from the most recent (February edition of Reactions magazine.