Episode 54 – Is your farm insurance keeping up with the changes?
This episode we take a deep dive into the changes affecting rising insurance premiums and advice on how to navigate the changes including a new insurance model called parametric insurance that will help farmers insure in the face of extreme weather events.
Guests include:
- Brett Borrell, Commercial and Rural Manager, Gallaghers Insurance
- Lucie Douma, Head of Client Strategy and Advice, FMG
Hosted by Rebecca Greaves, Editor, Country-Wide
Co-Hosts:
- Sheryl Haitana, Editor, Dairy Exporter
- Tony Legget, Journalist, Country-Wide
Gallagher Insurance commercial and rural manager Brett Borrell, breaks down the key factors driving insurance prices up for farmers and how insurance for insurers (reinsurance) plays a significant role in the rising costs of premiums. He also discusses the challenges farmers face in managing risk and offers insights on how understanding the components of your premium can help make informed decisions.
FMG head of client strategy and advice Lucie Douma, introduces the new insurance model parametric insurance. This is a model designed to help farmers manage extreme weather risks. She highlights its growing popularity and how it can complement existing coverage to ensure quicker and more efficient compensation when disaster strikes.
Read the Country-Wide Summer articles on insurance premiums and insurance market insights
