AAIS recently attended the IRMI Agribusiness Conference (AgriCon), the premier event for insurance and risk management professionals specializing in the exposures and coverage needs of farms and agribusinesses. Among the many interesting and informative sessions, AAIS Product Development Specialist Hope King highlighted two topics particularly near and dear to AAIS and our Members.
From record heat waves to the coldest of winters, hurricanes, droughts and flooding, it’s no secret that our climate and weather are changing…and changing the agribusiness insurance landscape with it.
In 2018, the California Camp Fire wildfire resulted in more than $16 billion in loss. Flooding in the Midwest resulted in crop contamination from nearby livestock fields. And the crippling cold from two polar vortexes in the last five years caused frozen pipes and burst boilers, leading to property and equipment damage claims.