Contact:
Shirley Pugh (202) 690-0437
AGRINATIONAL/AGRISERVE APPROVED AS NEW FEDERAL CROP INSURANCE
WASHINGTON, Aug 25, 2005 - The Risk Management Agency (RMA) today announced Agrinational Insurance Company, with its Managing General Agent (MGA), Agriserve Inc., as the newest approved participant in the Federal crop insurance program.
Agrinational has a rating of "A- (Excellent)" from the A.M. Best Company which reports, "This rating reflects the company's strong capitalization, favorable net income performance, and strategic role as the captive insurance company for Archer Daniels Midland Company."
"The combined assets and talents of Agrinational and Agriserve represent a welcome addition to the Federal crop insurance program," said RMA Administrator Ross J. Davidson, Jr. "Agrinational and Agriserve join existing insurance providers and RMA in our effort to increase coverage and capacity in the Federal crop insurance program allowing us to provide excellent risk management tools to the American farmer."
Agrinational is approved to write an authorized level of crop insurance premium for the 2006 crop year. Agrinational's MGA for the business, Agriserve, Inc., is located in Findlay, Illinois, and has 23 years' experience providing crop insurance in the Midwest.
Providing affordable and effective risk management tools to farmers is a unique public-private partnership. RMA is committed to extensive private sector involvement in the Federal crop insurance program and is pleased with the prospect of participation by Agrinational Insurance Company and Agriserve Inc.
There are now 17 approved insurance providers in the Federal crop insurance program, which is up from 14 in 2003. A listing of all insurance providers participating in the Federal crop insurance program is located at http://www3.rma.usda.gov/tools/agents/.
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