Many Battles are Won with a Stroke of the Pen, Long Before the Accident or Lawsuit

Busby-Stone Risk Management has developed a risk allocation strategy specifically for the world of agribusiness. We used three decades of education, background and experience, reviewing thousands of oil company master service agreements, and commercial construction contracts. We introduced our Agribusiness and Farm Insurance Specialist (AFIS) to our Construction Risk Insurance Specialist (CRIS) and Energy Risk Insurance Specialist (ERIS). The teams collaborated to design our “BSRM Portfolio of Contracts”. We engaged the legal services of Clifford Brown. Daniel Clifford and his partners assisted us in writing a portfolio of contracts that can be edited to fit any industry but with a focus on San Joaquin Valley Agribusiness. Our contracts are not suitable for any labor contractor or employment relationships and should not be used for that purpose. We highly recommend that you consult with your own legal counsel to determine the suitability of our strategy.

The recent tragedy involving an Ag land prep contractor striking a PG&E transmission line inspired the action we have taken to develop our program. The heavy equipment operator was killed, a nearby home burned to the ground, the residence, two ladies and a baby escaped the burning home. The ladies suffered burn injuries but the baby was not injured.

What happened next is what frequently happens with accidents followed by lawsuits in agribusiness, confusion. Confusing not about the tragic incident, but what each involved organization was going to do next. Yes, the farmer had a certificate of insurance naming them as additional insured. Is that better than nothing? Yes, but just barely better than nothing. This is a typical scenario and a typical example of a poorly laid out strategy to allocate risk.

Our strategy allocates the risk back too the contractor or service provider that cause the problem or accident. The BSRM Contract Risk Administration Strategy completes the risk allocation circle. It transfers, risk, finances risk and protects the agribusiness owner’s insurance program ultimately reducing the cost of risk.

We have witnessed thousands of claims in the farmlands of the great San Joaquin Valley. Agribusiness is alive and struggling in the great valley, drought, which farmer gets the water, labor disputes, the high cost of living all threaten an industry that feeds the world.

Call us for a free consultation: 877-665-9150

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Contractual Risk Transfer

Claims Scenario: No Contract and Only Additional Insured Status

Claim Scenario: Service Contract Including Indemnity and Additional Insured Status

Claims Scenario: Inadequate Policy Limits – But Big Assets