Established in 2019 as Latevo Farmers Mutual, Aussie Farmers Mutual provides Farm Income Protection for Australian broadacre farmers.
Aussie Farmers Mutual is a not for profit discretionary mutual that is owned by its members. It was created for Australian farmers by Australian farmers.
Aussie Farmers Mutual is the evolution of Latevo Pty Ltd, a market leader for Farm Income Protection in Australia since it’s inception in 2014.
With the withdrawal of global insurers from the Australian MPCI market in 2019, Latevo Pty Ltd, took the step to launch a not for profit discretionary mutual that provided Farm Income Protection for members.
Farm Income Protection has long been recognized as an important tool for for Australian grain farmers to prepare and manage through drought and provide assurance for farmers seeking capital.
The members of Aussie Farmers Mutual use their combined resources to fund Farm Income Protection and other costs. The combined resources of Aussie Farmers Mutual, the pool of protection fees collected each season from members, funds the payment of claims.
If there is a large number of claims made in any one year that the exceeds the amount of protection fees collected the Board has the discretion to pay claims on a proportional basis, ensuring that all members in a claim are treated fairly.
Aussie Farmers Mutual offers their members benefits including Farm Income Protection and Latevo Crop Monitor.
Farm Income Protection provides certainty to our members in uncertain seasonal conditions. It takes the stress out of the season and allows growers to invest in farm best practice with the assurance that their crop is underpinned by income protection.
Latevo Crop Monitor uses satellite data to provide real time reporting of a growers AGSR (annual growing season rainfall) by farm and EVI (enhanced vegetative index) by paddock.