First Acre Insurance™ Continues to Grow with Increased Capacity Thanks to a New Partnership

First Acre Insurance Inc. has increased its capacity of up to $25M with the help of Mutual Fire Insurance

Burlington, ON (Sept. 10, 2024) – First Acre Insurance™ launched in early 2024 and has continually been adding capacity with the most recent addition of Mutual Fire Insurance. The capacity of up to $25M for property and liability coverage is currently provided by, Red River Mutual, Mutual Fire Insurance and Aviva Canada. ARAG Legal Solutions Inc. and Intact Insurance Company are also providing capacity for additional lines of coverage, while The Commonwell Mutual Insurance Group is yet another key player supporting First Acre.

“We are pleased to continue adding capacity partners to our portfolio and achieve up to $25M”, commented Robin Shufelt, CEO First Acre Insurance. “When we reached out to brokers for challenges they face, capacity was at the top, especially as building and machinery values continue to increase. We will continue to look for ways to assist farmers to get the coverage they need.”

“Farmers in Canada have faced many obstacles over the last few years, and we feel insurance shouldn’t be one of them. Mutual Fire Insurance is excited to have partnered with and provide capacity for First Acre as they strive to provide coverage for farmers who may have challenges in a traditional broker office due to their size and capacity”, said Clare Stewart, Chief Operations Officer Mutual Fire Insurance. “The First Acre team is full of knowledge and is fully committed to the mutual success of brokers, insurers, and policyholders alike. We look forward to the mutually rewarding relationships they will bring to the industry.”

Agriculture has changed dramatically over the last several decades but the pace of change within the agriculture insurance sector has not shifted accordingly. First Acre Insurance is a new insurtech and managing general agent (MGA), established based on this need.

“All of our partners understand the opportunity to change agriculture insurance and they play an important role in doing just that, without these partnerships we would not be able to provide farmers with insurance coverage that is better suited to their evolving needs”, said Shufelt

In addition to providing unprecedented coverage options, First Acre has developed cutting-edge technology for brokers to quote, bind and issue in as little as 30 minutes. This platform will allow brokers to do their work more seamlessly, efficiently and with additional precision when it comes to the complexity of insuring farms.

Those interested in working with First Acre Insurance should reach out to the Business Development team at [email protected].

About First Acre Insurance

First Acre Insurance is a one-of-its-kind InsurTech and Managing General Agent offering fully customizable insurance policies to the 21st century farmer through brokers. Backed by agricultural expertise and passion, the company relentlessly innovates for the agriculture insurance sector. As a result, brokers can now help farmers better mitigate risks and protect their investments with policies tailored to their specific needs. First Acre Insurance operates in Ontario, Manitoba, Saskatchewan and Alberta. For more information, visit firstacre.ca.

About Mutual Fire Insurance

Founded in 1902, The Mutual Fire Insurance Company of British Columbia (MFI) was the first mutual insurance company headquartered in the province. Today, the company provides solutions for farm, commercial, and home insurance needs from British Columbia to Ontario. MFI continuously delivers a high standard of partner service to policyholders through a wide broker network and personalized claims service to help insureds get back to normal as quickly as possible. With a unique dual policyholder structure, MFI is committed to making people a priority by creating membership initiatives, investing in technology, and supporting community projects. For more information, visit their website at mutualfirebc.com.

Source: First Acre Insurance Inc.

Tags: First Acre Insurance, growth, InsurTech, MGA, Mutual Fire Insurance, partnership