Global insured losses from natural catastrophes hit $60 billion in the first half of 2024, according to preliminary estimates from the Swiss Re Institute. (Credit: Sepp Photography/Shutterstock)
You can’t control the weather; but you can control how you prepare for and react to the weather. That’s the seed insurance agents must sow among their agribusiness clients as the United States contends with more frequent and severe weather disasters.
Farmers know only too well how one tornado can take out a grain bin, one hail storm can damage a barn roof beyond repair, and one flood or drought can wipe out a crop. Accepting the elements is a known hazard for those in farming and agribusiness, but applying risk management techniques and practices can be part of a mitigation strategy.
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