Rokstone rolls out new US farm & ranch offering amid market squeeze
Rokstone Farm Risks Underwriting, a unit of international speciality re/insurance MGA Rokstone, has launched a new farm and ranch proposition in the US, in a move to offer market stability at a time when traditional carriers are cutting capacity, tightening policy wordings, and driving rate increases.
The bundled product includes property, auto and excess in one package. Based in Ohio, Rokstone Farm Risks, which works alongside the US based Rokstone Agriculture Risk Underwriters, has secured $15 million capacity for farm property, $5 million for farm excess, and $1 million capacity for auto liability with Glencar Insurance Company. The capacity is on an admitted basis, rated A+/XV by AM Best.
Joshua Lauth, president of Rokstone Agriculture Farm and Ranch, said: “We’re delighted to launch this new bundled product offering with modernised products that address niche needs in the marketplace, and a fast and reliable service. Rokstone is committed to offering insurance solutions at critical points in the agriculture product lifecycle.
“We are turning the tide at a time when economic conditions are putting pressure on reinsurance capacity, forcing markets to vastly alter terms and conditions or exit Farm and Ranch classes altogether. We continue to take the lead in addressing the needs of this underserviced sector of the market.
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