To help clients better understand insurance claim and risk trends, Nationwide has revealed its top ten commercial agribusiness claims, based on company data.
The top ten agribusiness insurance claims identified by the company are:
1. Motor Vehicle Accidents
2. Workers Compensation for Disability or Death
3. Misapplication of Chemicals or Drift
4. Slip, Fall or Injury
5. Food Related Claim
6. Animal Caused Damage or Bite
7. Glass Breakage
8. Wind Damage
9. Hail or Lightning Damage
10. Fire Damage or Loss
Nationwide said that over the last three years, the top ten insurance claims together accounted for over 50,000 of the claims received by the company.
"By sharing our top claims data, we hope to help agribusiness owners recognize areas of their operation that may need increased safety precautions," commented Nationwide vice-president of claims Carol Alvarez. "These national trends can help business owners pinpoint areas where they can take extra measure to keep their employees, products and equipment safe."
Motor vehicle accidents were the most common agribusiness claim Nationwide received in 2017. The company noted that over the past three years, motor vehicles accidents have accounted for more than 20,000 total commercial agribusiness claims.
Of the vehicle accident claims, the most frequently reported accidents were rear-enders, followed by accidents caused by backing into other vehicles, and vehicles unintentionally striking stationary objects. Nationwide also said that the motor vehicle accidents that caused the most significant damage were the ones that involved overturned vehicles, followed by head-on collisions and intersection accidents.