May 16, 2018

The most common agribusiness insurance claims of 2017 

U.S. farm insurer Nationwide recently released its most common commercial agribusiness insurance claims in order to help educate agribusiness professionals about costly trends in the industry.

Below are the top 10 commercial agribusiness claims the company received during 2017:

“By sharing our top claims data, we hope to help agribusiness owners recognize areas of their operation that may need increased safety precautions,” said Carol Alvarez, vice president of claims for Nationwide. “These national trends can help business owners pinpoint areas where they can take extra measure to keep their employees, products and equipment safe.”

Motor vehicle accidents were the mo­­­st common commercial agribusiness claim Nationwide received in 2017. Over the past three years, motor vehicles accidents have accounted for more than 20,00 total commercial agribusiness claims. Nationwide’s data for these accidents show the following trends in frequency and severity:

• Nationwide recommends the following risk management tips to help agribusiness professionals reduce motor vehicle accidents and keep their employees safe:
• Embrace safety technology by equipping vehicles with collision mitigation and telematics monitoring systems.
• Develop standard hiring criteria for drivers comprised of new driver orientations and documented training.
• Develop “safe following distance” and “distracted driving” policies that include comprehensive training and procedure enforcement.
• Be aware of advanced safety benefits in newer trucks, such as electronic stability control systems to prevent overturn.
• Provide additional documented training for commercial truck drivers with tanker endorsements, and those carrying high center of gravity loads.

Above: PRNewsfoto/Nationwide