Allstate Underwriting Agency says it has secured additional support from the Lloyd’s market to underwrite its farm package, a complementary livestock product and a new SME commercial package for rural and regional businesses. 

“We are very pleased to be able to bring additional capacity to the Australian market at a time when insurance support for farmers and small business owners in regional Australia seems less available than ever,” CEO Rodney Bond said today. 

Allstate, which has focused on rural and regional markets since starting in 2008, is part of The Envest Group, a subsidiary of UK-headquartered Ardonagh. 

“Obtaining Lloyd’s support for our products, thanks to the assistance of Envest’s major shareholder, The Ardonagh Group, allows us to again grow our farm insurance portfolio,” Mr Bond said. 

The farm package product is supported by a number of Lloyd’s syndicates and HDI Global Specialty SE and incorporates commercial and home property, liability, motor, machinery breakdown and inland marine. 

The livestock product, underwritten by Lloyd’s syndicate Markel, covers stock losses and accidents. 

The new SME commercial package, supported by the Canopius Lloyd’s syndicate has limits of up to $6 million for property and $20 million for liability.