Contain Inc And InterWest Collaborate To Offer First-of-its-Kind Insurance For Container Farmers

Contain Inc And InterWest Collaborate To Offer First-of-its-Kind Insurance For Container Farmers

Contain Inc has collaborated with InterWest Insurance & a leading national insurance firm to launch a comprehensive, flat-rate insurance for container farms.

Growers have sometimes found that they’re not covered for key risks, such as losing a crop to an HVAC unit’s breakdown”

— Rick Harrison, Vice President at InterWest Insurance

RENO, Nevada, USA, May 2, 2018, /EINPresswire.com/ -- Indoor agriculture - the practice of raising crops in warehouses, containers, and greenhouses using hydroponics, aquaponics and aeroponic techniques - is one of the fastest-growing practices in global farming. The number of commercial indoor farms in the US has more than doubled in the past two years as growers use the practice to deliver safe, fresh, local produce to consumers year-round. To date, indoor farmers have lacked the same access to financial tools enjoyed by their outdoor counterparts. This morning, Contain Inc and InterWest Insurance are announcing a first-of-its-kind collaboration to rectify one aspect of that inequity.

Indoor growers have different insurance needs to their outdoor counterparts; their operations rely on climate control equipment, and some crops are so delicate that they can perish in as few as two hours if not kept in the correct environment. Yet, workers in indoor farms typically have more variety in each day’s work, and so, we expect that they will see fewer repetitive strain injuries over time. Their customers are typically nearby, so they have less post-harvest risk of losing a crop. Current insurance options don’t take account of these differences. Instead, indoor growers all too often find themselves with insurance that does not meet their needs. “Growers have sometimes found that they’re not covered for key risks, such as losing a crop to an HVAC unit’s breakdown” commented Rick Harrison, Vice President at InterWest Insurance.

To remedy this, Contain Inc is collaborating with leading regional insurance broker InterWest Insurance and a major national insurance carrier to offer insurance designed specifically for indoor growers. Its first product is targeted at container farmers and offers a “one-stop shop” package for their insurance needs. It combines property coverage, farm liability insurance, crop loss and equipment breakdown coverage. The coverage package is available at a premium of approximately $1,500 per container for up to five containers. Those farming more than five containers will be serviced on an individual basis by InterWest Insurance agents, and the broker is equipped to work with indoor growers utilizing other forms of equipment, such as warehouse farms, plant factories and greenhouses in addition.

The package was designed with input from indoor growers and container farm equipment suppliers. “We’re excited to bring container farmers an easy, fast way to meet their insurance needs” added Nicola Kerslake, founder of Contain Inc. Further information on the package is available at the Contain Inc website at contain.ag.

About Contain Inc
Contain Inc is an alternate finance company focused exclusively on indoor agriculture. It works with more than a dozen leading indoor agriculture suppliers to aid growers in securing lease financing for their farm equipment and with leading regional insurance broker InterWest Insurance for their insurance needs.

About InterWest Insurance
InterWest was founded in 1992 as a result of the merger of three large successful insurance brokerage firms in Northern California. Through aggressive marketing and acquisition efforts, its influence has expanded and it is now a recognized leader in providing comprehensive insurance solutions for the Agribusiness community. Although headquartered in California, InterWest is licensed in all states and has a depth of expertise and professional in-house claims and risk control resources to serve clients nationwide.

Nicola Kerslake
Contain Inc.
7756237116
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