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Nationwide highlights rising cattle and dairy insurance risks tied to protein demand
The discussion points to low herd numbers and higher per-head values, which can require updated herd valuations to secure adequate coverage.
Risk & Insurance, in an Executive Video Q&A with Nationwide, says trends in the beef and dairy markets are changing the risk picture for cattle and dairy operators. The outlet attributes the shift to low herd numbers alongside inflation and strong protein demand.
Nationwide Agribusiness Vice President of Farm Sales and Underwriting Jeremy Staun, speaking with Risk & Insurance editor Dan Reynolds, highlighted the need for proper cattle herd valuations when placing insurance coverage. The program notes that values per head have risen sharply, which can affect how much coverage is needed.
The video also flags inflationary pressure on the cost of owning and running machinery, as well as the value of barns and outbuildings. Those changes, it says, should be reflected in coverage considerations for farm property.
The Q&A is part of a Nationwide and Risk & Insurance Brand Studio production, focused on emerging risk management themes and how insurers and industry participants are applying practical adjustments to underwriting and coverage decisions.