ACHMEA Allan Cowan

From humble beginnings in the Netherlands more than 200 years ago to Australia’s specialist rural insurer: Risk Specialist Allan Cowan describes Achmea’s multi-year partnership with Angus Australia and how its unique insurance offering and growing regional footprint is keeping farmers farming.

By Allan Cowan, Risk Specialist with Achmea for farmers across the New England, North West and the Mid to Far North Coast regions of NSW.

GenAngus Future Leadership Program
Achmea, Australia’s specialist rural insurer and Rabobank associate, is a proud partner of Angus Australia. Through our multi-year partnership, we are delighted to deliver the inaugural GenAngus Future Leaders Program in February 2019, designed to support Australia’s next generation of beef and agricultural leaders.The GenAngus Future Leaders Program articulates Achmea’s strong history of excellence and knowledge sharing, spanning almost two centuries. The program provides the resources to give the next generation of Australia’s beef and agricultural leaders the best chance to develop and learn and will help shape the industry for years to come.Along with tailored farm insurance, Achmea also offers stud stock insurance, designed to protect your stud bulls from the moment the hammer falls.

Our offering includes our comprehensive stud stock coverage with flexible options to manage the risks for stud stock including accidental loss of use, sickness and disease loss of use as well as mortality and transit cover.

Achmea’s partnership with Angus Australia
Angus Australia prides itself on being the most progressive, responsive and inclusive industry association in the country, and is a leader in its field of which initiatives including the GenAngus Future Leaders Program and the Angus Youth National Roundup are a testament.

Achmea’s unique value proposition dovetails with these types of initiatives and offers Angus Australia tailored insurance for its members.With more than 200 years of international expertise and a growing network of regional Risk Specialists across the country, Achmea partners directly with Angus Australia members to review and help manage their risks and provide farm insurance.For many Australian agribusinesses in our eastern states, 2018 will be remembered as one of the driest years on record, resulting in tough farming conditions. When every dollar counts, having adequate insurance cover is key to keeping farmers farming.With more than 200 years of international expertise and a growing network of regional Risk Specialists across the country, Achmea partners directly with Angus Australia members to review and help manage their risks and provide tailored farm insurance.

Farm insurance: don’t set and forget
Raised on a dairy farm near Taree and equipped with nearly 30 years of experience in agriculture, I’m passionate about the industry and protecting livelihoods through adequate insurance. Insurance can seem complex which is why, as Achmea’s Risk Specialist, I partner directly with farmers to talk about their business, review their on-farm risks and discuss their unique insurance needs. If a farmer’s cover has not been updated for several years, it most likely will not reflect the accurate value of a large portion of their most important assets. The same cover a farmer had five or even two years ago may not be the right one today, which means they may be under-insured or exposed to unnecessary risk.As we move into a critical risk period over summer, I’m out on farms across the New England region most days to help farmers review their risks as well as insurance levels.

Reducing risks is key to building resilience and mitigating risks can help keep premiums and unexpected repair bills down.

Why Achmea doesn’t adopt a one-size-fits-all approach
Each farm requires its own approach based on their current local context and individual commercial situation, it simply is not a one-size-fits all approach when it comes to farm insurance. Our local agricultural knowledge and personal service gives farmers peace of mind that they are adequately protected from unexpected loss. Through our local Risk Specialists, farmers tap into a wealth of local knowledge, and our familiarity with the equipment farmers use and the infrastructure they have in place certainly makes it easier for farmers to update their insurance. With our direct approach, farmers who come on board with Achmea find it easy to add certain items such as new equipment or livestock to their policy or adjust the level of cover as things happen within their business.Having face-to-face conversations about which assets are most valuable to farmers and how to best protect them means farmers don’t rely on guess work to make decisions that could have a material effect on their livelihoods.

Farmers can’t afford to under-insure their farm business
Recently, discussions I have had with farmers have mostly revolved around three main aspects: the cost of insurance, safety and liability.Particularly during the current drought, what I hear is that cost savings are top of mind. Many are reconsidering areas of expenditure, including insurance to achieve some financial relief. To lower premiums, it’s not uncommon for farmers to consider reducing their Sums Insured. However, this is one of the biggest risks a farmer could take. While some short-term cost savings are achieved, farmers can be left under-insured and financially exposed, with damages often much greater than what they could bear alone. There are other ways to lower premiums, including undertaking an Achmea Risk Review and looking to increase the excess. Through providing a higher excess, we not only offer lower premiums, but we can also avoid the risk of under-insurance. This results in greater resilience and security, so that livelihoods are safeguarded, whilst relieving some of that immediate financial pressure through our lower premiums and unique higher excess model.

Achmea’s tailored farm insurance covers a wide range of areas to give farmers peace of mind and build resilience and disaster preparedness in rural and regional communities.