Issues & Answers Special Advertising Section
October 2020

Issues & Answers: A Growing Business

“We have many endorsements available to provide robust coverage solutions for farmowners and commercial agribusinesses’ property and liability needs.”

At a Glance

• Coverage solutions to fit farmowners and commercial agribusiness operations.
• Industry-specific staff of dedicated underwriters.
• Expert agribusiness staff of claims handlers.

What types of operations are covered by agribusiness insurance?

At Philadelphia Insurance Companies, we focus on providing insurance solutions for two types of customers, farmowners and commercial agribusiness. Our Farmowners product provides coverage solutions for family farmers and ranchers. This product offering is ISO-based, and we have many endorsements available to provide robust coverage solutions for their property and liability needs. Our Commercial Agribusiness product provides coverage for ag-focused businesses that revolve around the inputs and outputs of those farmers and ranchers.

Both product segments face a multitude of potential risks and exposures. They can be weather-related property claims, such as wind and hail, tornadoes, hurricanes and wildfires. They also can be liability-related, such as legal suits brought against the insured, damage to property of others, or bodily injury due to auto accidents. These are just a few of the exposures that insureds can face.

What’s changed recently in the market that agents should be aware of?

There are various changes in the agribusiness insurance marketplace right now. We are seeing companies pulling back on their concentration of values and/or changing their risk appetite. We are seeing a few exiting the marketplace.
Finally, we are also seeing companies take rate increases, which can lead to customers asking their insurance agent to give them some additional quotes.

Why should agents and customers choose PHLY for agribusiness insurance?

Philadelphia Insurance Companies is a financially strong company, as shown by the A++ Superior rating by AM Best and A+ rating by Standard & Poor’s. This is important to customers. Customers need a company that will be there when they need them most, and that’s during the time of a claim. Another key benefit to our products is that we can address customers that have exposures in both product segments.
An example is a farmer that has commercial agribusiness-related exposures or an agribusiness customer that has farm and ranch exposure. We can tailor our coverage to cover their specific risks and exposures.