Rain, Rain Go Away!

As recently published in the Wall Street Journal, according to early estimates from state and industry officials, Nebraska’s agricultural sector could be facing nearly a billion dollars in damage and losses after a blizzard and record flooding across the Midwest. Flood warnings were in effect earlier this week, and continued melting of the snowpack and rainfall may cause the flooding waters to remain for weeks. Officials estimate Nebraska’s agricultural industries are losing about $1 million a day, as they deal with logistical issues, given inundated properties and road closures. Flooding is also expected to impede farmers’ ability to plant next year’s feed crops. Clients with an Oxford captive insurance product and in a situation where crops and the like may be impacted by a natural disaster, such as the recent flooding in the Midwest (or hail and drought as additional examples), may find they have provisions for coverage. Oxford offers a “Crop Damage, Difference in Conditions” event coverage which may be a fit for you as a business owner in the agricultural industry. To find out more, please contact us at 410-472-6490 or [email protected].