Latevo revamps structure

A multi-peril crop insurance provider is relaunching as a farmers’ mutual. Latevo is transitioning to a cooperative-like mutual model with 100% grower ownership, where policyholders will be entitled to receive a share of company profits at a cost of $500 for insuring 1000 hectares or less, $1000 for 1000-3000ha, and $2000 for more than 3000ha. The new structure would also allow the insurer to offer multi-year contracts to clients.

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Publication: Insurance Business Australia
Date: 30 April 2019
By Mina Martin