Mitigating E&O claims is more than just good documentation. Join us to hear claim stories, gain ideas for new agency practices (real examples!) and how learn how to stay out of trouble when navigating social media. Explore the fun side of E&O risk management with actual takeaways to deploy within your agency.

Businesses exist to make money. Even “non-profits” need to make money to survive. Thus, every business’ greatest exposure is the loss of needed income.

Some estimates are that approximately 25% of business operations that suffer a business-closing loss never reopen. Likewise, approximately 50% of those that do re-open close down within a short period after re-opening due to the business-closing loss.

Why do these businesses cease to exist? It’s not the lack of property insurance on the building or personal property. The real reason is the loss of income.

The most important asset requiring protection is the business’ income. In this session the five most important business income concepts are discussed. Upon these concepts business income is built:

• Defining Business Income
• Understanding the Period of Restoration
• Discussion of the Extended Business Income / Extended Period of Indemnity
• Recognizing Dependent Properties
• Completing the CP 15 15 Business Income Report and Worksheet

So much has changed over the last few years in farming…this isn’t your daddy’s way of farming. We look at how these changes have arrived on the farm, what they mean to the farmer and how they need to be considered and addressed by those insurance professionals working with these Ag accounts. We also polish up our crystal ball to see what else may be coming soon to a farm near you.

We’ll review these specific areas:

• Drone technology for farms and agribusinesses, the current regulatory environment and the risk management and insurance challenges and opportunities
• Examine the current growth of the Agritourism industry, its impact on traditional farm coverage and the proper methods to manage the various risks including applicable insurance
• Define Precision Farming and understand the myriad issues surrounding its increased use
• Distinguish between Farm Management and Custom Farming and examine the risk management and insurance implications of each
• Determine the variety of applications of new technologies such as autonomous farm vehicles, robots and other mechanization, their advantages and disadvantages and the insurance marketplace for each.