AFIS 5: Miscellaneous Farm Insurance Lines

Course Description
Farming, ranching, and agribusiness remain significant parts of the US economy. In fact, agricultural products raised in the United States find their way into the world’s food supply. While the global marketplace represents a huge economic opportunity for the agribusiness community, it is not without its risks. People the world over are concerned about access to an abundant, safe food supply. Anyone in the food chain can be held responsible when food safety requirements are not met.

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.

This course includes the following chapters:

  • Pollution Exposures and Risk Management
  • Pollution Coverage under Standard Insurance Policies
  • Pollution and Environmental Liability Policies
  • Directors and Officers Liability
  • Employment Practices Liability
  • Fiduciary Liability
  • Other Management Liability
  • Crime Loss Exposures
  • Crime Insurance

Learning Objectives
This is an intermediate-level self-study course. Students who successfully complete this course will be able to

  • recognize the pollution and other environmental exposures faced by farmers and other agribusiness operators and identify the risk management options available;
  • recognize the limited pollution coverage provided under standard Insurance Services Office, Inc., policies and identify endorsements to standard policies that provide additional protection for pollution incidents;
  • evaluate and compare variations among the key provisions of a D&O policy;
  • identify employment-related loss exposures and the common causes of action against agricultural employers;
  • recognize the key elements of and common exclusions in an EPLI policy;
  • demonstrate an understanding of the key elements of fiduciary liability policies;
  • identify and compare the two methods that can be used to provide coverage for EBL;
  • identify the exposures agribusiness clients face from crime losses;
  • recognize the coverage gaps in other property policies that create the need for crime insurance;
  • identify the most common crime coverages that pertain to agribusiness accounts; and
  • demonstrate a general understanding of employee dishonesty coverage and the special provisions that apply only to employee dishonesty coverage. 

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