Page 4 - Specialty Practice March Newsletter

Extra, Extra, Read all About it!

Agribusiness & Food Summit Success!

Agribusiness & Food ran a concurrent summit to Cannabis. Our Summit included 60+ HUB
folks spanning across 14 HUBs. We had ten carrier partners supporting our Summit and four
referring partners present to the groups at large.

Our Summit focused on Perpetuation as a key takeaway, and therefore both breakouts had
multiple case studies and panel discussions where experts in the field were letting the room in
behind the curtain to see how they manage their book and client loads/expectations.
- Josh Smart, Agribusiness & Food Practice Leader

Carrier Corner: Featuring Nationwide! (Ag focused)
Nationwide was one of our Carrier Sponsors at the Agribusiness & Food summit. The
Nationwide Ag & HUB Partnership focuses on Commercial Agribusiness and Farm & Ranch.
HUB is now in Nationwide’s Top 10 relationships across the country for NW Ag, and this
Relationship has experienced a 6% premium and new business growth in the past 12 months.
Nationwide’s Industry Trends & Underwriting Focus Areas in 2020
- Bifurcation of Agriculture
• By the Year 2040, 75% of US production may be controlled by 60,000 farms
• Remaining 25% of US production may be controlled by over 4 to 5 times that many farms
- Increasing Complexity of Farm Operations
• Regardless of the size of the operation, complexity increases significantly
- Food & Beverage Processing
• Industry growth due to consumer-driven demand for the specialty product
• Increased emphasis on food safety & traceability
- Profitability & Focus Areas
• The property, Commercial Auto, and Excess Lines
• Increased Rate, Underwriting Actions, and Appetite Review
Risk Management Resource
Remember to utilize Nationwide’s online risk management resource MyNSightOnline
(mynsightonline.com)

© 2019 HUB International Limited. 4