Most Popular Agribusiness Headlines This Year
The most viewed headlines from our Agribusiness Topic Page over the last year.
#1 Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
Aug 28 2023 // Farmers Insurance announced it will part ways with approximately 2,400 employees – 11% of its workforce across all lines of business. “Decisions like these are never easy, and we are committed to doing our best to...
#2 Farmers, USAA Lead Pack in Hiking Homeowners Insurance Rates in 2023: S&P
Oct 4 2023 // Farmers Insurance Group of Cos. and United Services Automobile Association (USAA) have increased homeowners insurance rates by nearly 15% each to lead all other insurers. According to S&P Global Market...
#3 Farmers Set to Abandon Wheat Crops at Highest Rate Since 1917
May 15 2023 // America’s wheat fields have become so plagued by drought that farmers are now poised to abandon crops at the highest rate in more than a century. Producers are expected to harvest about 67% of their planted acres,...
#4 Farmers CEO Reverses Course to Require Hybrid Work Schedule for Employees
Jun 9 2023 // New Farmers Group CEO Raul Vargas has reversed a prior company decision to allow most workers to do their jobs from home by instituting a hybrid work schedule starting in September. Despite some employees reportedly making...
#5 Farmers Forced to Rescind Thousands of Nonrenewal Notices in Georgia
Jul 24 2023 // About the same time that it announced a major pull-back from the Florida and California markets, Farmers Insurance also sent thousands of nonrenewal notices to Georgia homeowners. In Georgia, though, the carrier appears to...
#6 Allstate Doesn’t Owe for Diminished Value; Farm Bureau Barred from Subro, Courts Say
Jan 17 2024 // Two court rulings in Southeastern states have underscored insurers’ responsibilities under uninsured motorist laws. In a Mississippi class-action lawsuit, the U.S. 5th Circuit Court of Appeals found that Allstate...
#7 Zurich’s Farmers Group Seeks More Fee Income Via Acquisition of 3 Brokers for $760M
Nov 16 2023 // Zurich Insurance Group announced that its subsidiary, Farmers Group Inc. (FGI), has agreed to acquire three insurance brokers of the Farmers Exchanges for US$760 million. The deal also includes the Farmers Exchanges’...
#8 Residents Fight Planned Monkey-Breeding Farm in South Georgia
Jan 29 2024 // BAINBRIDGE, Ga. (AP) — Some local residents and an animal-rights group are protesting plans for a monkey-breeding facility in southwest Georgia. Opponents recently urged the Bainbridge City Council to block plans by a...
#9 Farmers Limits New Homeowners Policies in California, Prompting Insurer Group to Call for Reform
Jul 7 2023 // Farmers will limit new homeowners insurance policies in California, according to a statement issued by the carrier that follows a similar decision by State Farm last month and adds to a growing list of major carriers...
#10 Slide Assumes 86,000 Farmers Policies in Florida, Offers Appointments to Agents
Oct 16 2023 // Tampa-based Slide Insurance, which has made a practice of assuming Florida policies from other insurers in the last two years, said it has acquired renewal rights to 86,000 homeowner policies from Farmers...
#11 Farmers Insurance Further Reducing Florida Business
Jul 11 2023 // One month after it announced it would stop writing new homeowner policies in Florida, Farmers Insurance now says it plans to cut back further on its presence in the hurricane-prone state. The Florida Office of Insurance...
#12 American Financial Group to Acquire Crop Risk Services From AIG for $240M
May 3 2023 // American Financial Group Inc. and American International Group announced they have entered into a definitive agreement whereby AFG will purchase Crop Risk Services (CRS) from AIG. Under the terms of the transaction, AFG...
#13 Georgia Couple Wins $135.5M for Land Damaged by Runoff from Solar Farm
May 5 2023 // A federal jury has awarded a Georgia couple $135.5 million for damages to their property by a Tennessee-based solar company and its contractor. The award against Silicon Ranch Corp. and its contractor, IEA Inc., was...
#14 Farmers Halts Homeowners Policies in Florida
Jun 16 2023 // Farmers Insurance has confirmed it has halted sales of new homeowners policies in Florida just as the new hurricane season is getting underway. The insurer cited rising costs as the reason. “With catastrophe costs at...
#15 Baseball-Size Hail Makes Insuring Solar and Wind Farms Pricier
Aug 2 2023 // The Scottsbluff solar farm in western Nebraska was built to withstand most hailstones. But the icy pellets that rained down in late June were bigger than baseballs. The hail — part of a larger pattern of severe storms,...
#16 People Moves: Farmers Insurance Names Coleman President of Business Insurance
Apr 10 2024 // Farmers Insurance Names Coleman President of Business Insurance Farmers Insurance announced that Eric Coleman has joined the organization as president of Business Insurance, effective April 10. In this role, Coleman is...
#17 Colorado Farmers Must Pay $6.5M for Defrauding Federal Crop Insurance Programs
Mar 12 2024 // Two Colorado Farmers must pay more than $6.5 Million for defrauding federal crop insurance programs, according to U.S. Attorney Cole Finegan. Finegan’s office announced that Patrick Esch and Ed Dean Jagers of...
#18 Illinois Hog Farm Sued for Gender Identity Discrimination
Apr 3 2024 // Sis-Bro, Inc., a hog farm in New Athens, Illinois, violated federal law when it allowed an employee to be harassed because of her sex and gender identity, forcing her to quit, the U.S. Equal Employment Opportunity...
#19 AM Best Downgrades Ratings of Farm Bureau Mutual in Arkansas
May 18 2023 // AM Best downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” (Good) from “a-” (Excellent) of Farm Bureau Mutual Insurance...
#20 Frederick Mutual Exiting Personal Lines; Signs Renewal Deal With Farmers of Salem
Nov 8 2023 // Frederick Mutual, which is exiting the personal lines market and focusing strictly on commercial lines in the Mid-Atlantic and Southern regions, has reached a renewal rights agreement with another insurer for the bulk of...
