Tailored, Complex Risk Solutions
Agribusinesses are generally exposed to a variety of inherent production risks that tend to increase in complexity as the size of the operation increases. Where most commercial businesses can effectively access and utilise some or all of the standard Risk Management Options (ie Avoidance, Mitigation, Transfer and Retention) agribusinesses generally cannot.
Due to the very nature of the risks they face, agribusinesses often cannot “Avoid” or “Mitigate” their key production risks. Furthermore their ability to “Transfer” the risk is limited by the relatively small number of interested insurers, their limited appetite for risk and narrow range of insurance products. As a consequence and almost by default, large agribusinesses often end up “Retaining” their key production risks which is a far from ideal scenario.
To find out how AgriRisk can assist your agribusiness, please call to arrange a consultation with one of our experienced team members. Our Complex Risk Solutions brochure also contains more detailed information.
What's Available to Help?
Larger agribusinesses are often unaware they can access a range of more innovative, non-traditional risk transfer tools that may include:
• Blended finite insurance
• Weather derivatives
• Index and Parametric products
These tools can operate on a stand-alone basis, be combined and more importantly can be structured on a multi-year basis. This gives larger agribusinesses more options to effectively manage their key production risks and this is where carefully tailored, specific solutions are required.
The AgriRisk Approach to Complex Risk Management
The most appropriate production risk management strategy for an agribusiness must be determined by a thorough understanding of the underlying risks. AgriRisk will partner with your business to identify and quantify the financial consequences of the various production risks faced.
AgriRisk's Risk Management Framework
Stage 1: Identify the Risks
Stage 2: Quantify the Risks
Stage 3: Review Of The Available Risk
Stage 4: Recommend A Risk Management
AgriRisk takes the hard work out of choosing insurance.
Our team of experienced and friendly brokers will:
Determine your individual needs, including risk profile and budget
Approach a range of insurers to determine the most appropriate products for your business
Obtain a number of quotes, and negotiate the best price possible
Provide expert advice and make recommendations about the best risk management solution, at the best price