LUBBOCK, TEXAS - (Oct. 21, 2016) - ARMtech Insurance Services, Inc. is proud to announce the launch of Production Cost Insurance (PCI), a private product to help guarantee producers' profitability by covering both input costs and a significant portion of fixed costs as well.
Originally developed by Global Ag Risk Solutions (GARS), Production Cost Inusrance is a new and innovative approach to crop insurance in that is margin revenue protection, rather than yield coverage.
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 has a chance to revolutionize the way we think about crop insurance," says Michael Smith, President and CEO of ARMtech Insurance Services. "By offering a margin-based insurance product, PCI provided farm businesses with the confidence to invest in their crop knowing their input costs are covered."
PCI is a reliable, predictable risk management tool that not only underpins the cost of production in challengng growing seasons, but one that promotes best farm management practices each and every day, across virtually all aspects of the operation. When adversity strikes at any phase of the crop production cycle, PCI supports producer confidence and empowers them to make optimal managment and agronomy decisions.
"We are delighted to partner with ARMtech and their respected agen teams," says Grant Kosior, President and CEO of Global Ag Risk Solutions. "The Production Cost Insurance product ARMtech is providing their producer customers not only provides the margin and revenue support required to protect their farms and their family's livelihood, it also provides the producer's banker and input suppliers the confidence they desire. This is the next generation of insurance and assurance that farmers are seeking."
The PCI plan of insurance will be available for ARMtech agents beginning in 2017. for more information, please visit https://www.armt.com or reach out to one of our many Marketing Representatives.
About Global Ag Risk Solutions
Global Ag Risk Solutions launched the world's first margin protection product in 2011. It offers what no other insurance can by allowing farmers to maximize inputs and add more coverage with every additional spend on fertilizer, seed or chemical - without increasing premiums. Global Ag Risk Solutions is entering its seventh year of insuring Canadian growers, and now in the second year in the US, expanding its presence with ARMtech Insurance Services.
About ARMtech Insurance Services
ARMtech Insurance Services, Inc. (ARMtech), an operating subsidiary of Endurance, is a leading provider of federally sponsored Multi-Peril Crop Insurace 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 https://www.armt.com or call ARMtech at (800) 335-0120.
For more details, please contact Grant Kosior at 306-630-3330 or by email firstname.lastname@example.org