IGF Insurance Company, a crop subsidiary of Symons International Group, has developed AgPI, an agricultural production interruption insurance product for crop processors and handlers. The new product protects businesses that depend on a steady flow of a crop or crops to stay in business.
The protection is available to businesses such as elevator operators, custom harvesters, cotton gins, and even businesses that are dependent on a single supplier of products, for example popping corn.
These businesses have been able to buy normal business interruption insurance to protect against on-site calamities such as a fire, wind storm or tornado, the company explains. But until now, they have been unprotected by the insurance industry when a production shortfall in their trade area has limited their ability to bring raw materials to their operation. AgPI allows the agricultural business to protect against a disruption in the flow of the raw materials it depends on.
For more information, contact IGF Insurance Company, 6000 Grand Avenue, Des Moines, IA 50312. Telephone: 800-274-2766. Fax: 515-633-1010.