This means more options — along with expanded coverages — are now available for agents and their customers to work with. ABS Brokerage Manager Lexie Friar answers common questions FMH agents might have.
Lexie Friar, ABS Brokerage Manager
Q: If an agent has already tried ABS for certain coverage but wasn’t successful, should they consider it again?
A: We are constantly building new carrier relationships and enter many of our carrier partnerships with an emphasis on ag, so we sometimes get exclusive access to products like our excess casualty offerings. We take on new carrier partnerships based on the needs brought to us by our agency partners. So, the markets we have entered are influenced by the business that has been submitted to us.
Carriers trust ABS to offer their products because we understand the policy needs of farmers. Agents and farmers trust ABS to build comprehensive risk management packages because we understand the nuances of ag-focused policies. Don’t hesitate to give us a call with your unique risk!
Q: What unique approaches does ABS take with tough market conditions?
A: With the expansion of carrier relationships over the past year, we continue to grow our offerings beyond just the scope of a typical package offering. We are able to account for limitations offered in standard policies and add on needed coverages to fully protect our clients.
A couple examples of this include insuring stocked products separately to cover for exposures relative to transit and spoilage; or securing a wind hail deductible buy-down policy to reduce the amount of retention on an insured during a loss.
Q: What sets ABS apart from other brokerages?
A: As an FMH company, we’re dedicated to supporting America’s farmers and strive to fill the ag-specific brokerage gap in the industry. The ABS team has a combined 400 years of farm & ranch insurance experience, and great service is a priority for us. When you contact ABS, you work with one ag professional for an entire account, so you only work with one person throughout the whole process.
Q: What products have been popular lately?
A: Summer has been a great time to get policies in place for crop spraying (we even have an option specifically for drone crop spraying), equine needs like mortality and businesses, and food processing operations.
As we approach harvest, I think now is a great time to consider coverages for custom harvesters, farm management services, livestock mortality and livestock operations, agritainment businesses like pumpkin patches, U-pick apple orchards, hayrides, and more.
We also continue to aid in the placement of complex ag risks with several policies in place to support a full portfolio — including property, general liability, inland marine, and workers’ compensation. If the terms offered are not as anticipated, we have outlets to improve these offerings (i.e. wind/hail deductible buy-back options, monoline stock offerings, etc.)
Q: I’m not seeing a product I’m interested in covering on your website? Can you still help me find coverage for it?
A: Yes, we like to think that we’re only limited by our imaginations (and limited space in brochures and webpages). If you don’t see a product on our website, it doesn’t mean we don’t offer it. Contact us and we’ll see what we can find!
Q: How can agents learn more about new offerings from ABS?
A: We’ll announce new product offerings in emails or our company newsletter to agents. If you receive FMH email, you can now set up preferences — look in the footer of your email to subscribe or unsubscribe from ABS announcements.
You can also follow ABS on Facebook or LinkedIn. We regularly post new product promotions and updates there.