Statewide Claim Services LLC
Our adjusters are familiar with farm polices, and understand the necessity for rapid resolution of farm related claims.
We have many experienced adjusters that can provide the following adjusting services:
- Farm Structures/Property
- Fish Hatcheries
- Livestock Valuations
- General Liability
- Farm Machinery
- Scheduled & Unscheduled Farm Equipment
- Crop Adjusting (please contact office to verify locations prior to assignment)
Our adjusters are familiar with farm polices, and understand the necessity for rapid resolution of farm related claims.
We have many experienced adjusters that can provide the following adjusting services:
- Farm Structures/Property
- Fish Hatcheries
- Livestock Valuations
- General Liability
- Farm Machinery
- Scheduled & Unscheduled Farm Equipment
- Crop Adjusting (please contact office to verify locations prior to assignment)
What Is Agricultural Risk Mitigation?
Statewide Claim Services LLC
A specialist will help you figure out how to implement two types of strategies; one that deal with on-farm risk minimization techniques while the other deals with off-farm risk sharing techniques, including agricultural insurance. These strategies are set in place so that the farmer can plan on how to deal with issues such as short production cycles, diversification of their crop and livestock productions, which basically helps a farm to compensate with one product should another one fail, vertical integration, stabilization accounts, which act as a financial buffer during hard times, risk sharing strategies, marketing and production contracts, and derivative contracts, which help farmers cope with price risks and buy or sell primary assets like wheat at a certain price at a specific time.The most important strategy however is insurance. The insurance company will be able to calculate the probability of a loss in order to come up with a premium rate for you. One thing that can’t be stressed enough is the presentation of reliable data. Like taxes, if something is off, the farmer is the one that will ultimately suffer.
Another risk mitigation technique involves mutual funds. This allows other bodies like distributors to share in the potential financial rewards of the business as well as the risk in case it bombs. This way, the individual farm owner doesn’t have to take the full brunt of the loss should an unforeseen disaster strike.
Statewide Claim Services LLC
Moral hazard is also a part of the insurance clause and it refers to a change in the individual who acquired the insurance policy’s behavior. By this we mean if they are more reckless or less likely to protect their agricultural investments by for example refusing to invest in an air blower or protective coating, the insurance company will try to minimize the moral hazard issues from arising. This can be done by adding a deductible or a co-payment when the policy is made so that the insured bears at least partial responsibility for the loss. The moral hazard clause also forces the company to verify whether the insured is taking the necessary measures to prevent financial losses.
Ultimately the agricultural risk mitigation is there to help the farmer minimize the risk of major losses which could result in them losing the farm and losing a significant amount of money.
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The term “sustainability” is often heard with many businesses across all industry sectors either claiming to be sustainable or to be striving towards it. To precisely define sustainability and detail exactly how it is going to be achieved, particularly in reference to a specific business, is a much more difficult task than just claiming.
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Claim Solutions
We serve a wide range of clientele, and every client relationship is valued greatly. Each engagement benefits from the depth and breadth of our expertise. We have worked with individual home owners, property management groups, apartment complexes even local and state government. Claim Solutions Comprehensive Claim Support Due to the complex nature of today’s insurance polices, it has never been more critical for a policy holder to trust the settlement of their loss to the experts of Statewide Claim Services. Often, more than one area of expertise is required. With us, there’s no need to hire a multitude of contractors...
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