October 12, 2017 by Canadian Underwriter
SGI Canada has launched a farm business unit to help farmers understand their increasingly sophisticated insurance needs.
As farms have become bigger and operations more expensive, farmers’ insurance needs have become more complex, SGI Canada said in a press release on Wednesday. The staff in the new unit “understand these changes in the industry and are equipped with the farming knowledge and insurance know-how to better protect today’s agricultural producers,” the release said.
“Customers have told us that the insurance industry in general hasn’t done a good enough job understanding or serving the ag sector,” SGI Canada chief operating officer Don Thompson said. “We agree. After talking with customers and independent broker partners, we have begun to make some improvements. With the new farm business unit, we’re looking forward to giving our farm customers better service and the best coverage possible to meet their needs.”
According to the 2016 census, the average value of Canadian farmland and buildings was 39% higher in 2016 than it was just five years earlier, SGI Canada said in the release. “Farm equipment is getting more sophisticated every year, which also means it’s getting more expensive. Farmers need an insurance company that understands how the agriculture industry is evolving and is committed to evolving with it.”
The new unit has a specialized team of underwriters and adjusters dedicated to serving only farming and ranching customers. A professional agrologist leads the unit, SGI Canada reported, and all staff have training and knowledge of farming and ranching operations, crop production, farm vehicles, machinery, livestock, equipment, farm buildings and other assets.
“We get that it’s still a busy time of year as farmers race to get the last of the crop in the bin,” Thompson said. “Once harvest has wrapped up, we encourage them to talk to their insurance broker to learn more about SGI Canada’s farm business unit. We’re here to help.”
SGI Canada is the property and casualty insurance division of Saskatchewan Government Insurance, offering products in five provinces: Saskatchewan, British Columbia, Alberta and Manitoba, and as SGI Canada and the Coachman Insurance Company in Ontario. Operations outside Saskatchewan are held by the subsidiary company, SGI Canada Insurance Services Ltd. Products are sold through a network of independent brokers.