A new multi-peril crop insurance product covers all winter crops including legumes and hay.

Victoria-based SureSeason Australia will offer the cover on a national basis, underwritten by Lloyd’s underwriters.

“We will be covering all winter crops that are planted, so that would exclude crops such as pasture that are already in the ground,” director Brendan Reinheimer told insuranceNEWS.com.au.

“The cover offers protection against weather, pests, plant disease, livestock damage and all other perils.”

Mr Reinheimer says the product will cover 50-70% of the grower’s perceived five-year average performance.

“A grower can also elect a retention after coverage of up to 40% of revenue,” he said.

“We are offering a very flexible product for broadacre growers.”

Mr Reinheimer says the product has been in development for the past eight years, working with his co-director Darryl McCrae.

SureSeason was owned by Ruralco, but has now been bought out by the two directors.

They will maintain a relationship with Ruralco as a referral partner. Some individual insurance brokers are also acting as referral partners.

Applications for cover close on April 25 for the winter planting season, with the last day of risk writing on May 5.