Motor vehicle accidents are the most common agribusiness insurance claim, according to insurer Nationwide.
The Ohio-based insurer, the nation’s largest insurer of farms, said that over the last three years, the top 10 claim types have accounted for more than 50,000 claims by its agribusiness customers.
Here are the top 10 commercial agribusiness claims received by Nationwide in 2017:
|Top 10 Agribusiness Insurance Claims|
|1. Motor Vehicle Accidents|
|2. Workers Compensation for Disability or Death|
|3. Misapplication of Chemicals or Drift|
|4. Slip, Fall or Injury|
|5. Food Related Claim|
|6. Animal Caused Damage or Bite|
|7. Glass Breakage|
|8. Wind Damage|
|9. Hail or Lightning Damage|
|10. Fire Damage or Loss|
“By sharing our top claims data, we hope to help agribusiness owners recognize areas of their operation that may need increased safety precautions,” said Carol Alvarez, vice president of claims for Nationwide. “These national trends can help business owners pinpoint areas where they can take extra measure to keep their employees, products and equipment safe.”
Over the past three years, motor vehicles accidents have accounted for more than 20,00 of Nationwide’s total commercial agribusiness claims. Nationwide’s data for these accidents show the following trends in frequency and severity:
|Most Frequent Accidents||Accidents Causing Most Significant Damage|
|1. Rear end accidents||1. Overturned vehicles|
|2. Backing into vehicles||2. Head on collisions|
|3. Accidental strike of stationary object||3. Intersection accidents|
Nationwide recommends the following risk management tips to help agribusinesses reduce motor vehicle accidents and keep employees safe:
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