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Transportation Risk and The Agriculture Client - Vital Coverage Considerations
Length: 3 Hours
A farm is an active operation. Vehicles of all shapes and sizes are in near-constant motion. Some of these items travel under their own power – others are provided mobility by power units. Regardless of the source of their movement, the liability exposures are real. This presentation will reveal three coverage forms routinely used by ag operators with the goal of better understanding the liability coverages they provide for transportation risk. The discussion will concentrate on the types of vehicles each covers and exclusions and/or limitations that can prove problematic. Ultimately, the participant will understand that most farms need multiple coverage forms to adequately finance transportation risk.
Learning Objectives- Overview of how the Commercial General Liability Coverage Form (Insurance Services Office (ISO) form CG 00 01 04 13) addresses vehicle exposures
- Review of Commercial General Liability Coverage Form (CG 00 01 04 13) exclusions related to vehicles
- Overview of the need for auto coverage
- Introduction to the Business Auto Coverage Form (CA 00 01 10 13)
Major Subjects
- Auto Designation Symbols
- Autos Liability Coverage
- Important exclusions in the BAP
- Physical Damage Coverage
- Motor Carrier Coverage
Samuel T Bennett, CIC, AFIS, CRIS, CPIA, CPRM
Sam Bennett is an active retail producer, presenter, and shareholder in Harrison Agency, Inc. of Columbia, MO. He began his insurance career in 1987 and has been an Independent Insurance Agent from the beginning. He has worked with individuals, families, and small businesses his entire career. In this capacity, he has worked in the personal lines, commercial lines, agribusiness and life and health marketplaces. As a result of working with many types of clients, many carriers, and many coverage needs, Sam has grown to understand and appreciate the important ways an insurance professional must work with markets and clients in today’s insurance world.
Sam obtained his Certified Insurance Counselor (CIC) designation in 1996. He has taught coursework for the National Alliance in their CISR program since 2000, has presented in their CIC program since 2004, and in 2009 became a National Faculty Member of the Society of CIC. Sam is also a speaker in IRMI’s Agribusiness and Farm Insurance Specialist (AFIS) program and is a speaker in the AIMS Society’s Certified Professional Insurance Agent (CPIA) program. He has been called upon to offer insurance education in conferences and symposiums across the country over the past twenty plus years.
As much as he enjoys speaking on insurance topics, Sam’s true passion is cooking. BBQ and soul food are his specialties. He likes nothing more than a lively pulled pork/crawfish/catfish/collard green discussion.
