Rokstone Agriculture Launches Suite of New Products & Announces Successful Transition to Admitted Business

Advisen - January 10, 2023 - Rokstone Agriculture Risk Underwriters, the US specialist Agriculture division of the International Speciality (Re)Insurance MGA, Rokstone, has announced the launch of a suite of five new livestock covers.

In addition, the MGA has confirmed it has successfully transitioned to admitted business across 23 US States currently, and now offers coverage on both an admitted and non-admitted basis, giving brokers more flexibility. It expects to offer admitted cover in a total 44 US States next year.

The five new products are:

  • Livestock Mortality – all risk cover for individually scheduled animals.
  • Livestock Confinement, Pasture and Feedlot - provides coverage for herds and flocks of animals for specified perils, including fire, wind, flood/drowning, snowstorms, collapse, attack by predators, and contaminated feed or water. This coverage has a broad array of available endorsements, including coverage in transit, consumption of toxic plants, suffocation, human error.
  • Livestock, Care, Custody, and Control Liability - provides coverage for non-owned livestock being raised under a written feeding contract. Coverage is designed for swine and poultry confinement exposures and includes cover for losses resulting from human error. Coverage can be extended for loss of income.
  • Livestock Motor Truck Cargo Liability - provides coverage for livestock whilst being transported. Coverage can be written for both owned and non-owned live animal exposures. Coverage can also be extended for non-livestock freight that is transported.
  • Livestock Auction Market Coverage - provides coverage for animals being sold through a livestock auction or purchased by any other type of livestock marketing company, including packing plants.The new Livestock products all provide broader and more flexible terms than any other coverage currently available. They also include a number of unique policy features including Grazing Poisoning, Human Error and Suffocation Only coverage for confinements.

Cover limits are up to $500,000 per animal and $20m per risk. Primary capacity is from Accelerant (A- Excellent) and excess capacity from Convex (A- Excellent).

Eric Conklin, CEO of Rokstone Agriculture, comments: “In less than a year we’ve successfully brought sorely needed capacity, choice, data insight and efficiency to the Livestock market and we’ve remained committed to broadening our appetite. Until recently brokers in the US have been held hostage with only one insurer in the market offering terms for broad livestock cover that includes core as well as niche risks – we are confident that with the launch of this latest suite of products we now provide the broadest and most flexible cover options on the market for livestock risks.”

Rokstone is one of the world’s largest MGAs, with offices in the UK, Europe, USA, Asia, Africa, and the Middle East. A leading specialist, it serves the needs of international (re)insurance brokers in specialty lines business. Rokstone currently underwrites USD 750m GWP in several specialty lines including Marine, Aviation, Terrorism & Political Violence, Direct & Facultative Property, Treaty Property, Construction & Engineering, Liability and Agriculture. In 2022 Rokstone was awarded MGA of the Year at both the UK’s Insurance Insider Honours awards and the British Insurance Awards.