Live Asset Insurance is a new green-industry insurance program designed to cover nursery and greenhouse crops, distributors and garden centers. The company insures against weather events including hurricanes, tornadoes, hail, snow, ice and lightning.
Policies are available to cover up to $10 million in damages. It can be purchased as a stand-alone policy or wrapped around Government Crop Insurance catastrophic coverage.
Issues of value assessment and loss adjustment are done using the leading national plant valuation system in collaboration with trained horticulturists and arborists, according to David Teed, managing director of Live Asset Insurance.
The program is available in 18 Southern states and will go nationwide by December 2009.
The program was developed with input from American Nursery & Landscape Association members and its Grower Division board.
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For more: Live Asset Insurance, (212) 843-7129; www.liveassetinsurance.com.
August 2008
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