Continued growth at John Deere Risk Protection (JDRP) has set the stage for a relationship between two innovative companies with a strong vision for the future. Beginning July 1, 2008, the start of the 2009 reinsurance year, JDRP will become the managing general agent (MGA) for crop insurance for an insurance company subsidiary of AIG Commercial Insurance.
JDRP has been offering crop insurance as an MGA since 2005 and serves growers in 40 states. JDRP decided to seek this relationship with AIG Commercial Insurance to be able to provide an even broader financial capacity for its already rapidly growing business. “Building on our proven relationship with AIG, a company with a rich history of innovation and financial expertise, is a vital step in helping us carry our vision forward,” says Don Preusser, President of JDRP.
With rising commodity prices and weather uncertainties, American farmers are faced with increased challenges related to their risk management strategies and it is critical they have confidence that their crop insurance provider has the strength and capacity to respond to any losses they might incur. “AIG Commercial Insurance is pleased to provide its support to JDRP’s growing crop insurance business,” says Robert Coords, President of the AIG Re unit of AIG Commercial Insurance.
About John Deere
John Deere (Deere & Company - NYSE: DE) is the world’s leading provider of advanced products and services for agriculture and forestry and a major provider of advanced products and services for construction, lawn and turf care, landscaping and irrigation. John Deere also provides financial services worldwide and manufactures and markets engines used in heavy equipment. Since it was founded in 1837, the company has extended its heritage of integrity, quality, commitment and innovation around the globe.
About AIG Commercial Insurance
AIG Commercial Insurance is the marketing name for the domestic commercial property casualty insurance operations of American International Group, Inc. AIG Commercial Insurance serves a wide range of customers from multinational and middle-market companies to non-profit organizations and small entrepreneurs. For additional information, please visit our website at www.aig.com. All products are written by insurance company subsidiaries of AIG Commercial Insurance Group, Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language.