Latevo International has signed up the first two brokers to distribute its Certainty Insurance crop cover.

The referral agents are National Rural Insurance Group and Ag Guard.

“We are moving towards a national referral agency network,” Latevo CEO Andrew Fuller told insuranceNEWS.com.au.

“Having just signed up the first two, we are happy to talk to other brokers about joining.”

Mr Fuller says the Certainty product is offered nationwide and is backed by Allianz.

“We are now selling policies to farmers for next season’s broadacre cereal crops, and expect to have the first signed up this week.”

The product will cover expenses incurred growing crops, with risks including flood, hail, wind, frost and pests.

In a bad year the insurance will “ensure the farmer gets a payout to help break even, unlike other multi-peril products”, Mr Fuller says.

To gain cover farmers must submit five years of financial statements and disclose the total number of hectares to be planted.

Premiums will be based on risk profiles drawn from financial and property information.

Latevo’s promotional material says the company offers premiums below $10 a tonne.