Forestry/Carbon
The Agricola Policy provides forestry owners with cover against loss caused by fire, hail and windstorm damage. Our policies provide owners with flexible cover options regardless of geographic location, species or age.
Tree Species
The Agricola policy is designed to cover all plantation forestry - predominantly Pinus and Eucalypt species. Other tree species may also be insured subject to special acceptance by underwriters.
Insured Perils
The standard cover provides insurance against fire from any cause, impact and malicious damage. Limited hail cover is also provided as standard.
Flexible Coverage
The Agricola policy is flexible, allowing owners to select the amount of cover they require from a range of additional perils and coverage options.
Additional Perils and Optional Covers
The Agricola policy also provides cover, if required, against Windstorm, Volcanic Eruption, Earthquake, Landslide, Fire fighting charges, Plantation and Infrastructure re-establishment costs and Claims preparation costs below. Additional Hail cover is also available.
Windstorm
Cover is provided if windstorm results in:
- Snapping of tree stems
- Uprooting of trees
- Leaning of trees, which will result in their snapping or becoming uprooted within 6 months after the date of the windstorm
If leaning trees caused by windstorm can be remedied, we provide cover against the cost of the remedial work.
Plantation and Infrastructure Re-establishment
Following an insured loss, we provide cover for the cost of clearing, preparing and replanting the insured block. We also provide cover for the costs of repairing or replacing the damaged fencing, roads, bridges or fire fighting reservoirs (including above ground pipes used for supplying them) surrounding or on an insured plantation.
Infrastructure Re-establishment
Following an insured loss, we provide cover for the costs of repairing or replacing their fencing, bridges or firefighting reservoirs (including above ground pipes used for supplying them) surrounding or on an *insured plantation.
Carbon Sequestration
Agricola’s policy also allows you to insure against the potential liabilities associated with the emission of sequestered carbon following an insured event. Our policy is the most flexible in the market and can be adapted to the needs of both plantation owners and carbon emitters. Whilst an Agreed Value policy, the valuation of the sequestered carbon can be adjusted during the policy period on a pre-agreed basis. Also, in line with standard forestry valuation procedures, you may select the time period and discount rate to calculate the net present value of potential liabilities or income loss.
Policy Excess
Multiple excess options are available:
- Per event
- Percentage based
- Aggregate excess amounts
Efficient Claims Settlement
Agricola has received much praise from growers for our efficient claims handling. Following a loss, you must complete a Loss Notification Form and submit it to Agricola within 48 hours of the loss. An assessor will contact you, usually within 48 hours, to arrange an inspection of your plantation, once it is safe to do so. Agricola’s loss assessors are professional and experienced in all aspects of silviculture.
The Insurer
The insurer of this policy is Allianz New Zealand Limited, company No 445514. Allianz New Zealand has a Standard and Poor’s rating of “A”.