Suncorp is dropping farm insurance from its portfolio, a mildly ironic move for an entity built in part on the corporate origins of the old Queensland Industry Development Corporation.Suncorp told intermediaries it recently undertook a review of its farm insurance portfolio to determine the future commercial viability of this particular product.The review included consideration of its responsibility to shareholders and customers to maintain the profitability of each of its individual product portfolios.As a result, from October 12, Suncorp said, it would cease underwriting new farm insurance policies.From December 31, Suncorp would cease offering renewal terms. These dates were dependent on the distribution channel."All existing policyholders will remain covered for the duration of their policy, and we will continue to manage and pay claims in accordance with the terms of their policy," the company said.This decision affects all brands and all distribution channels in Suncorp's Commercial Insurance division, including GIO.Insurance News Australia