WAFarmers is proud to announce Latevo International, the only company offering Multi-Peril Crop Insurance (MPCI) in Australia, as a diamond sponsor.
For more than a decade, WAFarmers has been lobbying State and Federal governments to introduce an affordable crop insurance scheme for grain producers, WAFarmers President Dale Park said.
“We welcome Latevo’s efforts to bring a MPCI product to the market given the immense effort WAFarmers, particularly the Grains Council, has dedicated to securing such a product for the benefit of growers,” Mr Park said.
“WAFarmers is pleased to welcome Latevo as a diamond sponsor and looks forward to working closely with them in conjunction with our members.
“The product fulfils the criteria we have been looking for in an MPCI product, but we urge growers to make their own assessment.”
Latevo International chief executive Andrew Trotter said the sponsorship arrangement with WAFarmers would assist with the goal of providing financial confidence to growers.
“This product will allow growers to move risk off their balance sheets, reducing risk for financial institutions and enabling growers to attract much-needed additional working capital,” Mr Trotter said.
“MPCI has been a long time coming for WA, but growers should note there is a geographic limit to the number of growers per shire able to join the 2014 program, so those wishing to apply should do so by November 15.”