Look for new firms to join the ranks of only 15 approved crop insurance providers for next year.
USDA’s Risk Management Agency (RMA) approved Church Mutual Insurance Company (CMIC) as a Standard Reinsurance Agreement holder, combined with Precision Risk Management, LLC (PRM) as its managing general agency (MGA) for the 2019 crop season.
“We are very excited and honored to be a part of the delivery system of the Federal Crop Insurance Program,” Jeff Svennes, chairman of PRM, said in a release. Svennes is the owner of Svennes Crop Insurance Agency in Sioux Falls, S.D.
To be approved, Church and PRM were required to demonstrate the necessary financial, organizational resources including technical skills, leadership and experience in the field of crop insurance.
“Our commitment is to provide the needed crop insurance solutions to manage production risk with a keen focus on leveraging the latest farming technology to simplify, increase accuracy and make more efficient, the entire insurance experience for ranchers and farmers" said Don Preusser, president of PRM. Preusser has a long history in the insurance industry, serving as president of John Deere Insurance Company from 2006 to 2015 and, most recently, as executive vice president at Farmers Mutual Hail Insurance.
The Moline, Ill.-based John Deere sold John Deere Insurance Co. and John Deere Risk Protection to Farmers Mutual Hail Insurance in 2015, reducing the number of approved providers to 15.
“This partnership to provide crop insurance to Midwestern farmers really aligns with our mission to serve and support those who serve others,” said Rich Poirier, president and chief executive officer of Church Mutual.
Precision Risk Management is licensed in 16 Midwestern states and is headquartered in Sioux Falls, S.D.
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