Growtech Indemnity

Products

Growtech currently offers several coverage options for Hemp producers:

HempCompanion™

Our HempCompanion policy offers additional insurance on top of the federal Hemp Actual Production History (APH) policy.

Follows same qualification requirements as the underlying federal Hemp policy
Coverage up to 75%
Provides additional price coverage to federal APH policy
Processor Contract required (per underlying MPCI requirements)
County T-Yields available for liability calculation
Premium per acre varies, contact us for a quote

HempFlex™

Provides standalone hemp insurance utilizing policy language similar to the Federal Hemp policy with the following key differences:

Coverage permits hemp-over-beans and hemp-over-hemp planting
Covers pests, disease, mold, and leaf damage
Policy does NOT require a contract with an extractor, unless required by underwriting
Sales Closing Date is 2/28 or 3/15 but may be extended depending on seasonal conditions
Premium per acre varies, contact us for a quote

HempGuard™

HempGuard is designed for growers with bio-mass production having CBD levels in excess of 5%.

Protects up to $15,000 per acre
Insures for both biomass yield and CBD potency
Multi-Peril coverage including weather events and quality
Underwriting approval required

Product Comparison

Coverage	Federal APH Policy	HempCompanion	HempFlex	HempGuard
Drought
Excess Moisture
Hail/Wind
Frost/Freeze
Insects
Disease
THC
CBD Potency
Hemp Over Hemp
Hemp Over Beans
Processor Contract Required	Yes	Yes	No	No

Multi-Peril Coverage

Our policies cover weather such as drought, excess moisture, hail, and wind, as well as insect damage, disease, and quality losses like mold and leaf spot.

Input Cost Coverage

Our plans are designed at levels to prevent adverse weather conditions from putting growers into a net loss.

Underwriting

Policies are carefully underwritten to ensure long-term integrity of the program.

Availability

Products are available in many states where hemp is grown. Contact us for more information.

Agent Partners

Growtech Indemnity is committed to long-term partnerships with insurance agents looking to sell our products.
We pay competitive commissions to retail insurance agencies.

About Us

Mission

Growtech Indemnity was created to form industry leading risk management solutions for Hemp growers.

A-Rated Insurer
Backed by Reinsurance

Senior Officers

Galen Buisson

CEO & Founder of retail and wholesale insurance operations.

Co-founder of international P&C Underwriting Joint Venture.

30 years international experience in retail, direct underwriting, and reinsurance markets.

Principal of Quadrant Insurance Managers, a professional lines wholesaler since 2004.

Paul Tate

Equity investor in an entity formed in 1999 to contract with the RMA to build crop insurance policies. The entity, AgriLogic Insurance Services, became an Approved Insurance Provider in 2010 under the FCIC/RMA.

In 2012, became COO of AgriLogic Insurance Services as it became an Approved Insurance Provider operating in 38 states.

In 2015, became the CEO/CFO of Ag Resource Management, a crop insurance and lending institution operating in 22 states.

Frequently Asked Questions

How do I sign up for one of your policies?

Please fill out the contact form below and a licensed crop insurance agent will reach out to you to discuss risks on your farm. If you have a local crop insurance agent, we recommend you include them in our discussions.

Do you cover mandated destruction of plants if THC levels are too high ("hot")?

HempGuard does offer THC protection if certain testing protocols are met. Our HempSecure policies, in line with the Federal crop policy, does not cover mandated plant destruction. For more information about Hemp protocols or for general hemp application questions click here or call 800-978-6342.

Do you cover prevented plant or replant costs?

Similar to the Federal policy, neither HempSecure or HempGuard policies cover prevent plant or replant costs. This is a coverage option we are monitoring for possible inclusion as more planting data for industrial hemp becomes available.

What is the deadline for purchasing this policy?

HempSecure sales closing dates are either 2/28 or 3/15 but may be extended subject to underwriting review. Final planting dates are the same as the Federal hemp insurance dates depending upon the county of the crop being planted. HempSecure policies are individually underwritten. The HempGuard sales closing date is 4/1 but occasionally is extended if the planting season is late.

When are premium payments due?

Premiums are due at coverage binding and based on expected planted acres.

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