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2020 AFIS Conference Sessions

AFIS 1: Farm Property

1/27/2020 8:00 AM - 1/27/2020 5:00 PM

Summary
Farm property policies are designed to provide insurance on existing buildings and their contents. These buildings may function for the insureds’ personal use (such as their home) or their business use (such as their farm/ranch operations). Both household and farm business property may be provided coverage through the farm property program. The same set of forms and endorsements is used for both monoline and package policies. The course examines various ways in which property—primarily property of a type generally found on farms and ranches—can be covered by insurance policies. The course also addresses items that do not necessarily stay on the farm. Tractors, combines, livestock, and other items all found on an insured farm may also move around on and off the farm premises.

AFIS Update

1/28/2020 8:00 AM - 1/28/2020 5:00 PM

Summary
When the Equipment Breaks, Does Your Insurance Respond? – While farming has always been highly dependent on equipment, that equipment is more indispensable than ever and, at the same time, presents new risks arising from technology. Equipment is used longer and hard and has sophisticated systems that can be sensitive and prone to break down. When equipment breaks down, productivity is affected, and it hurts the bottom line. Yet many farm insurance programs do not properly address this exposure. This session will discuss the exposures that farms face, along with insurance coverages that can be used to address these exposures properly. Intricacies of Additional Insured Status – The topic of additional insured status is a difficult one at best. Many misconceptions result when adding contracting parties to one another’s insurance policies as additional insureds. There is also the tug-of-war between insurers and indemnitors that want to limit the scope of additional insured coverage under their policies and the indemnitees who want to maximize coverage under the policies of the indemnitors. Added to this, the interaction of additional insured status with indemnity clauses, insurance requirements, and other contract provisions is unique and complex. This session will examine additional insured status under various policies and the reasons for requiring, methods of achieving, and problems associated with additional insured status under these policies. Management Liability and the Farmer – Agribusinesses often feel they don’t need any type of management liability coverage because they aren’t a “big corporation.” However, they face many of the same exposures, particularly in the area of employment-related claims and fiduciary obligations. This interactive session will present scenarios and engage the audience in identifying the exposures and the solutions. It will discuss the best way to provide the coverage at a feasible cost. For scenarios that cannot be solved by insurance products, solutions will be explored to minimize exposures through best practices, contract, or avoidance. Managing Cyber Risk in Modern Agribusiness – From costs associated with data breaches to business interruption costs caused by system-wide shutdowns, no operation is safe from the losses generated by today’s Internet-driven business environment. This is true for agribusinesses and is an exposure that often is overlooked by smaller operations. Identifying exposures and finding the right insurance coverages can be a daunting task. Insurance policies written to cover cyber and privacy exposures are anything but simple and lack standardization. This session will clarify – in nontechnical language – exactly what exposures can arise, the forms that can be used to protect against and reduce the legal, financial, and reputational risks that are all but unavoidable in the current electronic age. Employment Law Issues for Agribusinesses – A number of employment-related claims can arise in agribusiness and farming operations. Using scenarios, this session will identify the causes of action, the basis for claims, and the costs of federal and state litigation. It will also discuss the coverages available, deductibles, combined claims, and reservations of rights issues. Managing and Insuring Evolving Farming Methods – Traditional farming techniques are rapidly evolving to encompass hydroponics, vertical farming, microfarming, and organic farming. These techniques add unique risks and exposures not found in traditional farming techniques. This session will review the crops being grown, the types of systems used, the exposures related to the various systems, and insurance coverage issues and availability.

AFIS 2: Farm Liability

1/28/2020 8:00 AM - 1/28/2020 12:00 PM

Summary
A detailed overview and analysis of the liability exposures faced by farmers and a thorough understanding of the various insurance products that can be used in arranging an insurance program on their behalf. The course examines the most common insurance coverage forms available in the marketplace, including a study of coverage provided as well as excluded, commonly used endorsements, policy conditions, and miscellaneous provisions.

AFIS 4: Special Farm Property Insurance Lines

1/28/2020 1:00 PM - 1/28/2020 5:00 PM

Summary
Farming, ranching, and agribusiness remain significant parts of the US economy. In fact, agricultural products raised in the United States find their way into the world’s food supply. While the global marketplace represents a huge economic opportunity for the agribusiness community, it is not without its risks. People all over the world are concerned about access to an abundant, safe food supply. Anyone in the food chain can be held responsible when food safety requirements are not met. This course covers five property insurance topics not covered in other AFIS courses: equipment breakdown insurance, mobile agricultural machinery and equipment insurance, livestock insurance, animal mortality insurance, and crop insurance.

AFIS 3: Farm, Auto, Work Comp and Umbrella

1/29/2020 8:00 AM - 1/29/2020 12:00 PM

Summary
Examine forms of liability insurance that play an important role in protecting farm and agribusiness operations: vehicle, workers compensation and employer’s liability, and umbrella/excess policies. It examines the various vehicle exposures faced by farmers, ranchers, and other agribusiness operations and how they can be insured, exploring the coverages available under various standard insurance policies. The most common endorsements are also reviewed. This course then examines in detail workers compensation and employers liability insurance as they pertain to agribusinesses.

AFIS 5: Misc. Farm Insurance Lines

1/29/2020 1:00 PM - 1/29/2020 5:00 PM

Summary
Learn about various miscellaneous lines of insurance coverage that are important to agribusinesses. The course looks at agricultural pollution risks and insurance. Coverage for environmental liability is extremely limited under both the commercial general liability (CGL) and farm liability coverage forms (FLCF); therefore, environmental impairment liability coverage may have to be obtained through specialty or nonstandard markets where coverage forms vary significantly. The course also examines management liability insurance. It is important that insurance professionals understand the various insurance policies that together constitute management liability insurance and offer them to agribusiness clients. The course concludes with a discussion of crime exposures and coverages. Every business in the United States is a potential target for criminals. However, agribusinesses are often specifically targeted.
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