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Press Release

 

ARMtech’s New Production Cost Insurance Guarantees Revenue for Farmers

LUBBOCK, TEXAS – (Oct. 21, 2016) – ARMtech Insurance Services, Inc. is proud to announce the launch of Production Cost Insurance (PCI), a private product designed to safeguard agricultural producers’ profitability by covering both input costs and a significant portion of fixed costs. ARMtech is partnering with Global Ag Risk Solutions, which developed Production Cost Insurance as an innovative approach to crop insurance which is margin revenue‐based rather than yield‐based.

Farming is a high risk business, and volatile price movements in seed, chemical, fertilizer, and commodities make it difficult to predict farm revenue from year to year. PCI alleviates these concerns by providing a predictable annual revenue stream above defined, direct input costs.

“PCI is a revolutionary new way to think about crop insurance,” said Michael Smith, President and CEO of ARMtech Insurance Services. “By offering a margin‐based insurance product, PCI provides farm businesses with the confidence to invest in their crop knowing their input costs are covered.”

PCI is a reliable and predictable risk management tool that not only covers the cost of production in challenging growing seasons, but one that promotes best practices in farm management across virtually all aspects of the operation. When adversity strikes at any phase of the crop production cycle, PCI empowers producers to make optimal management and agronomy decisions.

“We are delighted to partner with ARMtech and their respected agent team,” says Grant Kosior, President and CEO of Global Ag Risk Solutions. “The Production Cost Insurance product which ARMtech will be offering their producer customers not only provides the margin and revenue support required to protect their farms and their families’ livelihood, it also provides the producers’ bankers and input suppliers the assurance they desire. PCI is the next generation of insurance for farmers.”

The PCI plan of insurance will be available through ARMtech agents beginning in 2017. For more information, please visit www.armt.com or reach out to one of our many Marketing Representatives.

About ARMtech Insurance Services
ARMtech Insurance Services, Inc. (ARMtech), an operating subsidiary of Endurance, is a leading provider of federally sponsored Multi‐Peril Crop Insurance and private crop insurance products throughout the United States. A recognized leader in technology, ARMtech is focused on providing superior insurance products and services through a wide network of independent insurance agents. ARMtech’s headquarters are located at 7101 82nd Street, Lubbock, TX 79424. To learn more, visit www.armt.com or call ARMtech at (800) 335‐0120.

About Global Ag Risk Solutions
Global Ag Risk Solutions (GARS) launched its first margin protection product in 2011. GARS offers unique insurance that allows farmers to maximize inputs by increasing coverage dollar‐for‐dollar with every additional dollar spent on fertilizer, seed or chemical – without a corresponding increase in premium. GARS is entering its seventh year of insuring Canadian growers, and is now in its second year in the United States, expanding its presence with ARMtech Insurance Services, Inc. For more details, please contact Grant Kosior by email at grant@agrisksolutions.ca or call (306) 630‐6330.