Farm & Ag

Growing Cannabis Acceptance Leads to Industry, Insurance Changes

Dec 15, 2020 / by AAIS posted in Community, Issues & Trends, Regulatory/Compliance, New/Emerging Risks, Cannabis, CannaBOP, Farm & Ag, Commercial Lines, Legislation & Regulation, latest news 4

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Cannabis insurance is a budding topic, growing alongside the expanding cannabis industry. Five states have approved recreational cannabis during the 2020 elections, bringing the total states where cannabis is fully legal to 15. What does this mean for the cannabis market, particularly for insurers involved with this growing industry?

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Is Vertical Farming Cities’ Saving Grace?

Aug 19, 2020 / by Rich Pelkofsky posted in Issues & Trends, New/Emerging Risks, Farm & Ag, Farming

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COVID-19 has left a trail of destruction in its path. Spreading across the world, it has weakened businesses and industries as people and governments respond to the challenges associated with the ongoing pandemic. The Farm and Agriculture industry is no exception, having experienced disruption due to the deadly virus. In some locations, workers were sent home and transportation was stalled, leaving the tables of millions of families without the produce they so rely upon.

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The Budding Potential of Vertical Farming

Jun 18, 2020 / by Rich Pelkofsky posted in Issues & Trends, New/Emerging Risks, Farm & Ag, Farming

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Climate change continues to wreak havoc on farm and agriculture businesses. With increasingly unpredictable weather, destructive storms, and a decrease in natural resources, the farm & ag industry is scrambling to find a more reliable way to farm– one that would protect the industry from a quickly changing world.

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Cannabis Coverage is Lighting Up the Insurance Industry

Jun 17, 2020 / by Phil Skaggs posted in Issues & Trends, New/Emerging Risks, Cannabis, CannaBOP, Farm & Ag, Commercial Lines, Industry

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An increasing number of states are legalizing the use of medicinal and recreational cannabis, creating the opportunity for new business ventures and the need for reliable insurance coverage as the industry expands and matures.

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Trade Wars, Meat Processing Among Key Farm & Ag Issues during COVID-19

Jun 3, 2020 / by AAIS posted in Community, Issues & Trends, Events, AAIS Event Archive, COVID-19, New/Emerging Risks, Farm & Ag, Food, 2020 VME, Laurus Insurance

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Dairy, meat and crop supplies are available…but processing is not. Decreased demand for ethanol leads to changing priorities from farmers, and Midwest family farms, already impacted by rising machinery prices, struggle to survive. For Farm & Ag insurers, the COVID-19 pandemic has resulted in unexpected challenges requiring quick, creative solutions to help keep the farm industry afloat.

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Climate Change and the Shifting Landscape in Agribusiness

Sep 13, 2019 / by Rich Pelkofsky posted in Robotics, Issues & Trends, Data & Technology, New/Emerging Risks, Climate Change, Agribusiness, Farm & Ag

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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.

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New Rules for Sanitary Transporation of Food

Sep 15, 2018 / by Rich Pelkofsky posted in Community, Issues & Trends, Data & Technology, Robotics/Drones, Regulatory/Compliance, Farm & Ag, Auto, Food

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There has seen an increase in governmental oversight of the manufacturing, handling and storage of food. The Food Safety Modernization Act (FSMA) was passed to prevent practices that could potentially create food safety hazards. The Food and Drug Administration (FDA), in turn, released rules for the safe transport of food. They are known as rules for "Sanitary Transportation of Human and Animal Food", and they are affecting the inland marine market.

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