Freguently Asked Questions

What is a Farmer-Owned Insurance Cooperative?

It's a member-owned entity where farmers collectively purchase or self-insure for property and liability needs, often through a group captive structure. This reduces costs and tailors coverage to ag-specific risks.

How Does the Group Captive Work?

There are several states where Group Captive Insurance companies can be established. Our coop would join or form a group captive in one of those states focused on agriculture, allowing shared risk pooling among similar operations for better rates.  

Cooperative Development Grant (Minnesota Dept. of Agriculture)

This state grant supports new farmer cooperatives with up to $50,000 per project (with a 50% match) for activities like feasibility studies. Applications typically open annually; we'll aim for the next cycle to fund our planning. Eligibility focuses on coops enhancing agricultural processing, marketing, or services—our insurance model supports farm viability, fitting under agricultural services.