Reaccreditation

This course covers the topic of farm property policies. Farm property policies are designed to provide insurance on existing buildings and their contents. These buildings may function for the insureds' personal use (such as their home) or their business use (such as their farm/ranch operations). Both household and farm business property may be provided coverage through the farm property program. The same set of forms and endorsements is used for both monoline and package policies. The course examines various ways in which property—primarily property of a type generally found on farms and ranches—can be covered by insurance policies. The course also addresses items that do not necessarily stay on the farm. Tractors, combines, livestock, and other items all found on an insured farm may also move around on and off the farm premises. These exposures can also be addressed with the policies reviewed in this course.

This course provides a detailed overview and analysis of the liability exposures faced by farmers and a thorough understanding of the various insurance products that can be used in arranging an insurance program on their behalf. The course examines the most common insurance coverage forms available in the marketplace, including a study of coverage provided as well as excluded, commonly used endorsements, policy conditions, and miscellaneous provisions.

This course examines forms of liability insurance that play an important role in protecting farm and agribusiness operations: vehicle insurance, workers compensation and employers liability insurance, and umbrella/excess policies. It examines the various vehicle exposures faced by farmers, ranchers, and other agribusiness operations and how they can be insured, exploring the coverages available under various standard insurance policies. The most common endorsements are also reviewed. The course then examines in detail workers compensation and employers liability insurance as they pertain to agribusinesses.

The course covers five property insurance topics not covered in other AFIS courses: equipment breakdown insurance, mobile agricultural machinery and equipment insurance, livestock insurance, animal mortality insurance, and crop insurance

This course deals with the various miscellaneous lines of insurance coverage that are important to agribusinesses. The course looks at agricultural pollution risks and insurance. Coverage for environmental liability is extremely limited under both the commercial general liability (CGL) and farm liability coverage forms (FLCF); therefore, environmental impairment liability coverage may have to be obtained through specialty or nonstandard markets where coverage forms vary significantly. The course also examines management liability insurance. It is important that insurance professionals understand the various insurance policies that together constitute management liability insurance and offer them to agribusiness clients. The course concludes with a discussion of crime exposures and coverages. Every business in the United States is a potential target for criminals. However, agribusinesses are often specifically targeted.

Like any business person, a farmer has to practice good management techniques, including proper risk management of all phases of the farming operation. Sound risk management techniques include exposure avoidance, loss control, contractual risk transfer, retention, and insurance. Those who provide risk management products and services to this market must also be familiar with these issues. This course presents the concept of risk management as it applies to farmers and their business and offers an understanding of the various forms of insurance designed for this market. The course covers farm property coverage, farm liability coverage, farm livestock coverage, farm umbrella coverage, products for large commercial farm corporations, and crop insurance.