Agriculture, Food and Farm Insurance and Risk Management

Gallagher offers comprehensive consulting services tailored to the grocery industry, addressing a wide array of grocery specific needs from risk management to claims support. Since 1969, we've been dedicated to serving and protecting independent grocery retailers across the county; we now proudly support more than 1,000 independent retailers.

Leveraging our extensive experience and robust partnerships with leading grocery insurance carriers, we build innovative solutions that stand out in the marketplace, ensuring our grocery clients receive unparalleled coverage and support.

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A member-owned insurance program established in 1991, Harvest is designed specifically for companies in the food industry. By pooling insurance costs among member companies, Harvest allows participants to have greater control over their insurance programs. The captive encourages active involvement in claims management and loss control services, enabling companies to influence their insurance outcomes directly.

Rates are determined based on each company's individual performance, and members have the opportunity to retain underwriting profits along with investment income. This approach has proven successful for a variety of companies within the food sector.

Climate and weather volatility don't seem to be going away anytime soon, and their impact is felt in a variety of ways. Some of these impacts are felt acutely, such as increasing percentage deductibles for wind, hail and other natural catastrophe events. Other weather-related impacts — which historically haven't been insurable other than through crop insurance — include yield and supply shortages, increased costs of growing/harvesting, significant area-wide freeze losses, or shortened or early growing seasons.

If you have balance sheeted risk or off-balance-sheet exposure to weather or climate, we can help manage that risk using parametric insurance.

Parametric policies are extremely transparent, only requiring the defined triggers to occur — such as hail of a specified diameter or temperatures outside a specified range — and an affidavit of loss to collect a claim. Parametric insurance avoids a complicated or drawn-out adjustment process for valuation or the need for forensic accountants to determine business interruption impacts. So parametric policies pay quickly: typically within 30 days of the event — and in some cases within hours — based on the data set being used to evaluate the event.

Using third-party weather and government data sets, Gallagher works with clients to structure formulaic policies across a wide range of perils:

Importantly, parametric policies can cover both direct damage and non-damage losses, providing the flexibility to be purchased by companies throughout the agribusiness supply chain that rely on or highly correlate with weather, climate and natural hazards.

Our proprietary stock throughput insurance provides comprehensive coverage for agricultural commodities throughout their entire journey, from production to delivery, eliminating the uncertainty of whether property or cargo policies cover losses at different stages. By consolidating multiple covers into a single end-to-end policy, the program fills coverage gaps, helps reduce overall insurance costs and frees up capacity in property programs.

Equipment breakdown coverage helps fill specific gaps or exclusions for property damage, business interruption and added extra expense, or spoilage loss that's excluded from typical property insurance policies. We leverage the expertise of Gallagher partner Risk Placement Services to offer better coverage, broader forms and endorsements, and competitive pricing.