Stable

Stable writes parametric policies tied to publicly reported commodity price indices rather than indemnifying physical crop loss. When a farmer's local cash price for corn or soybeans falls below a preset floor, the policy pays automatically without a claims adjuster visiting the field. This covers revenue risk that multi-peril crop insurance does not address, specifically the margin between input costs and output prices.

Stable operates as a coverholder at Lloyd's of London, meaning the risk is predominantly borne by Lloyd's syndicates and other reinsurance partners. Stable itself is not a balance-sheet insurer holding large reserves. The firm earns a commission and technology fee on placed policies while ceding the actuarial risk to its capacity providers.

None of the above. Stable is a licensed insurance manager and insurtech company. It does not manage discretionary third-party capital for a carry, nor does it deploy a family's proprietary balance sheet. The venture funding it raised is corporate equity in the operating company, not LP commitments to a fund.

Stable underwrites parametric price-protection policies for over 15 commodity indices as of 2024, including corn, soybeans, wheat, and dairy. The firm has publicly indicated it is expanding into additional soft commodities and proteins as it builds out capacity with Lloyd's syndicates.

The firm distributes through agricultural lenders, grain elevators, input suppliers, and directly to large food brands. Policyholders range from row-crop farmers in the US Midwest to dairy cooperatives in Australia and food manufacturers hedging input costs. Embedding the product into procurement and financing workflows is a core distribution strategy.