Do you operate a farming business and a “non-farming” business? Did you know that this is vital information that you need to inform your insurance broker with? All policies contain limitations and one of the very basic ones is that a farm policy is set up to cover farm exposures. A commercial policy is to …
Plan Now! Now is the time to put together a plan in order to keep your livestock production at peak efficiency this next summer. Heat Prostration insurance is available just in case things do go bad. In order to qualify for the coverage though, just like any other insurance, you must qualify. Qualifying for the …
There is some confusion when it comes to determining the dollar value of livestock. It would seem very simple at first glance. The purchase price should be it, well maybe not. The age, feed cost, fixed overhead costs are just a few initial considerations in determining the value. What about the average cull rate in …
When you own something or do something there is risk. Typically, people choose to cover off this risk by selling it to the insurance market. The insurance company charges a premium and then in the event of a covered loss happening, it is their responsibility to get you back to where you were before the …
When you, a business owner is involved in an accident, your natural reaction is to acknowledge the mistake and to apologize. It may happen to a valued client and you want to do what you need to in order to salvage the business relationship. In the event of litigation this may compromise your insurance company’s …
Insurance Brokers provide numerous services and are a very important part of the community. Virtually all insurance companies know how valuable the broker’s role is and support those efforts. Some of the services provided are: – Search the market place for best coverage and price – Provide technical advice to clients – Find insurance …
For Canadian distributors in the U.S., the world has become a lot more complex, especially for those that manufacture. In general, the insurance companies know that the claim frequency is higher and the settlements are also greater in the U.S. due to the product liability exposures. The U.S. customer is demanding higher product standards and …
What is the total cost of risk in your business activities today? It has not changed when you look at it from a different angle than I know you are thinking right now. I am not going to talk about specific dollars. Let’s look at it from a different level. There are 4 components to …
With all the volatile weather we are having this summer, many more than normal will sustain damage to their property and as a result, be forced to open an insurance claim. Once a claim is opened, the insurance company “claims adjuster” will call you to discuss the immediate action plan, if any, and to make …
So, you have your machinery insured on your farm policy and you decide to earn a little extra revenue by going out and doing some custom work. Did you know that the farm policy is designed for farmers doing their own farm work and not for farmers doing farm work for others? This is referred …