Starr Indemnity & Liability Co., a unit of Starr International, is entering the crop-insurance market, following its approval as a provider in the federal multi-peril crop-insurance program for 2013.
Starr is one of two new insurers to recently enter the market: The other is XL, based in Dublin. With their entrance there are now 17 insurers in this market, led by Wells Fargo and Ace Ltd.
A spokesman says Starr Indemnity & Liability Co. will be working with International Ag Insurance Solutions LLC, a managing general agency, as its servicer. Based in Des Moines, International Ag mainly focuses on the corn, soybean and wheat markets in Illinois, Indiana and Iowa.
According to Starr officials, the decision to enter the crop-insurance market is an outgrowth of last year's hiring of Bob Coords as head of Starr Specialty Reinsurance, a division of Starr Indemnity & Liability Company. Coords is an expert in the agriculture sector and introduced Starr to the crop business.
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