Agricultural Output Program (AgOP)
The AgOP provides forms, manual classifications and rules, and rating information for insuring property exposures for more than 80 eligible classes of agriculture-related risks.
The AgOP’s flexible rating procedure is ideally suited to agricultural operations, and the policy can be packaged with any commercial liability or agricultural specialty liability policy.
Modeled in part after the AAIS Commercial Output Program (COP), the AgOP provides broad property and inland marine coverage in a single policy form.
AgOP coverage features
Even large agricultural operations often have someone living on them, and the AgOP is designed to include the personal, farm, and commercial property coverage needed to insure agribusiness risks.
The following coverages are available on an open perils basis:
- The dwelling and any related private structures are insured as building property, along with farm buildings and business structures.
- Building property coverage is extended to builders risk exposures, and to newly acquired and constructed buildings (specific builders risk coverage is also available).
- When indicated on the declarations, the household personal property of the insured is included in the personal property coverage while that property is at insured locations.
- Computers, mobile, equipment, and stock can be covered on a blanket or scheduled basis.
Coverage for builders risk, computers, and mobile equipment is provided in the same form as coverage for buildings and personal property, including stock.
In addition, four time element options are available in the base form, and a separate crime coverage part provides a broad range of options that incorporate features of highly competitive commercial crime programs.
Agents and carriers are literally “on the same page” as they work through the declarations to determine what limits are needed for each coverage.
In this way, the AgOP allows insurers to control their exposure. Most importantly:
- Carriers can determine individual sublimits for additional, extended, supplemental, and crime coverages simply by entering them in the declarations.
- Carriers can choose between blanket and scheduled coverage, or combine the two by granting blanket coverage with exceptions for certain scheduled locations, structures, equipment, stock, or other personal property.
With this finely honed, filed product, an insurer can tap into the growing market of vertically integrated agricultural operations involved in cultivating and processing food, fiber, lumber, and related products.
Insurance companies seeking more information on AAIS products and
services can contact Rick Maka, director of marketing and strategic
alliances, at our contact form , or by calling 800-564-AAIS, ext. 3222.