Grain growers question cover
Policies covering stored grain have come under scrutiny in the wake of last month’s bushfires.
Regional-oriented newspaper The Weekly Times has reported that at least one grain grower is being questioned about the practice of storing grain in large, sausage-style plastic bags.
One estimate puts holdings in the bags at more than 1.5 million tonnes in Victoria alone. Low prices before the 2008/09 harvest are seen as a catalyst for the bags’ popularity.
Victorian Farmers Federation Grains Group Deputy President Russell Amery is quoted in The Weekly Times as telling growers to talk to insurers about their specific storage situations.
Two insurers contacted by insuranceNEWS.com.au demonstrated wide variance in their policies.
One covers grain in the bags for fire, but not storm and tempest. A silo is required for full coverage.
Another says its definition of silo has been changed to include the plastic bags and coverage includes storm but not flood.
Regional-oriented newspaper The Weekly Times has reported that at least one grain grower is being questioned about the practice of storing grain in large, sausage-style plastic bags.
One estimate puts holdings in the bags at more than 1.5 million tonnes in Victoria alone. Low prices before the 2008/09 harvest are seen as a catalyst for the bags’ popularity.
Victorian Farmers Federation Grains Group Deputy President Russell Amery is quoted in The Weekly Times as telling growers to talk to insurers about their specific storage situations.
Two insurers contacted by insuranceNEWS.com.au demonstrated wide variance in their policies.
One covers grain in the bags for fire, but not storm and tempest. A silo is required for full coverage.
Another says its definition of silo has been changed to include the plastic bags and coverage includes storm but not flood.