Argis is yet to secure a new underwriter for its Farm Extra Insurance product after a five-year arrangement with HDI Global Specialty came to an end last month.

At the start of April, Argis ceased offering new business and renewal terms on Farm Extra Insurance while the search for a new underwriting arrangement got underway.  

It said it would relaunch its farm insurance product once a suitable arrangement is formed.

A notice to brokers said Steadfast was working to establish a new underwriting arrangement for Argis and was committed to supporting the agricultural sector.

“Steadfast is continuing to work with potential partners in order to secure capacity for Argis and their brokers and clients,” a Steadfast spokeswoman tells insuranceNEWS.com.au.

The comprehensive farm insurance product covers the farming needs of primary producers in Australia.  
Argis said notice of non-renewal, along with a claims history, would be sent five to six weeks before each policy’s expiry date and it would update brokers of developments as there was information to share.