Brokers have applauded news that Argis Underwriting is once again arranging cover for farm risks after securing new capacity with Newcastle-based Pacific International Insurance. 

Argis had ceased offering new business and renewal terms on Farm Extra Insurance in April after a five-year arrangement with HDI Global Specialty came to an end.  

Argis owner Steadfast says it will now focus on small to medium-sized farming risks, including farm building and contents, machinery breakdown and cropping. 

“This will provide us with potentially more solutions for our agricultural clients,” Director of WA-headquartered Grace Insurance Frans du Plessis tells insuranceNEWS.com.au. 

“This represents a leap forward in the agricultural insurance space and will undoubtedly result in insurance solutions that are not only better aligned with the unique challenges faced by farmers but also more accurately priced.”  

Mr du Plessis says the agricultural and insurance landscapes are becoming increasingly complex for Australia’s farming community, and the demand for advice, risk management and financial protection has never been greater for farmers. 

“The agreement between Pacific International Insurance and Argis reflects a shared commitment to addressing the unique needs of modern farmers,” he said.  

“This collaboration seeks to bridge the gap between traditional insurance offerings and the dynamic realities faced by the farming community.” 

Another broker said the new arrangement was “certainly interesting” but they want to examine what wording changes are made.  

Argis Underwriting Manager Peter Morsley says there are “minimal changes” to the product wording and risk appetite despite a changing farm insurance landscape around Australia. 

"This was a huge consideration for us and formed an important part of our decision to partner with Pacific,” Mr Morsley said. “We’ve been arranging comprehensive cover for farmers and primary producers across Australia for nearly 30 years and we’re looking forward to the next 30.” 

Steadfast Claims Solutions will now manage claims for Argis Insurance under the new arrangement. 

Pacific, owned by South Africa’s Badger International, also underwrites a number of other products in Australia and New Zealand, including PD Insurance and Blue Badge Insurance, an Australian disability insurance specialist, and it entered an underwriting arrangement with Nib Holdings for travel in 2021. Pacific CEO Roland Lange is also CEO at Badger Holdings Australia.