John Deere launches John Deere Insurance Co.

John Deere recently announced the establishment of John Deere Insurance Co., formed to strengthen its position in crop insurance. Since entering into crop insurance in 2005 as a managing general agency (MGA), John Deere Risk Protection Inc. has leveraged John Deere’s brand and expertise in ag to help customers with insurance protection against yield and price loss to their crops, said a company spokesperson.

“This new insurance company will allow us to further invest in the future of agricultural insurance, and is part of an ongoing commitment to our John Deere crop insurance agencies and customers,” said Don Preusser, president of John Deere Insurance Co. in a released statement.

Subject to federal regulatory approval, John Deere Insurance Co. expects to become an approved insurance provider of the Federal Multiple Peril Crop Insurance program. John Deere Insurance Co. will operate its crop insurance business in 40 states.