Coverage focuses on the farming and agriculture industry, including hard-to-place or boutique farms on a non-admitted basis.
PRODUCT: Agri-Business Services Program
COMPANIES: Sierra Specialty; Watford Specialty Insurance Company
BEST RATING: A-
AVAILABILITY: Open to all brokers or agents. Appointments are only necessary if they want payment or pay on statement basis.
FOCUS: Sierra Specialty—program specialist, managing general agency and wholesale insurance brokerage—recently announced a new, exclusive agribusiness program now available in all 50 states.
Sierra Specialty has sole authority to underwrite, bind and issue policies for this program, focusing on the farming and agriculture industry, including hard-to-place or boutique farms on a non-admitted basis.
“Sierra Specialty has been the wholesaler of choice in the farm and agriculture industry since 2005," says Mark Schroeder, chief operations officer of Sierra Specialty. “We have several underwriters with Agribusiness and Farm Insurance Specialist (AFIS) designations and many of our employees grew up on farms."
COVERAGE DETAILS: All quotes include general liability and professional liability, each with separate limits of up to $5 million (occurrence) and $1 million (claims made), respectively. Coverage includes care, custody and control; herbicide and pesticide coverage; pollution clean-up; and drift or overspray coverage. Inland marine coverage can also be added at the insured's request.
“We don't know of any other product like ours that is available nationwide," says Kathy Schroeder, president of Sierra Specialty. “Our closest competitor only offers limited coverage in a few states."
UNDERWRITING: ACORD and supplemental applications are required, as well as relevant operating licenses. Rating is based on sales and is not auditable.
MINIMUM PREMIUM: $1,000
TARGET: Agricultural crop sprayers, all types of agricultural advisers, farm managers, farm labor contractors, farm machinery operators and harvesters, hay baling, pest and weed sprayers, advisers, landscape services, and tree trimming services. New business operations are also encouraged.
“Our program has the ability to provide general and professional liability on all of these classes," Schroeder says. “The professional liability alone fills major gaps in coverage for contractors who provide services to farmers. The industry has been asking for this type of coverage for a long time, and we are pleased to deliver it."
COVERAGE AVAILABILITY: Available in all 50 states.
CONTACT: Mark Schroeder, chief operations officer, Sierra Specialty Insurance Services LLC, 234 Clovis Ave., Clovis, CA 93612; 559-256-6912.
Will Jones is IA editor-in-chief.