MGA Crop Pro Insurance receives US regulatory approval
Crop Pro Insurance, a new managing general agent (MGA) specializing in crop insurance, received Standard Reinsurance Agreement (SRA) approval as an MGA from the US Department of Agriculture (USDA).
“Agriculture is evolving as new technologies come to market and emerging markets are developing,” said Billy Rose, chairman of Crop Pro Insurance.
"The SRA approval enables Crop Pro Insurance to offer Federal crop insurance, while Crop Pro also creates and provides risk management solutions. These solutions will help growers and agents manage the potential financial risk in using new technologies and participating in these emerging markets.”
Joe Young, president of Crop Pro Insurance, added: “Crop Pro Insurance may be a new company but we are not new,” said. “We have decades of proven experience in bringing solutions to agents and growers alike.”
As chairman of Crop Pro Insurance, Rose will call on over 20 years of experience in the crop insurance industry in building this entrepreneurial venture. Young brings 29 years of industry knowledge and management experience to his position as President of Crop Pro Insurance. Prior to this, he led insurance operations at The Climate Corporation, John Deere Insurance Company and AmTrust Agriculture Insurance Services.
The company will use its expertise in agriculture, technology, and insurance to help growers adjust to changes in the agriculture industry and increase yields and revenue.
The approval makes Crop Pro Insurance one of 16 companies in the world eligible to participate in the Federal Crop Insurance Program.
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