Agriculture

We have performed several reference calls for Pinnacle and will do so in the future.

— Insurance Company

Services

Agriculture

As farms and the agriculture industry change, so, too, must the insurance coverage necessary to protect corporate and small farms alike. That means developing products that cover the evolving exposures in the agricultural economy.

At Pinnacle, we understand farmowners coverage can be written more precisely by actual risk. We can identify rating variables that improve your rating plan and ultimately your underwriting results. We also think farmowners coverage can be written more competitively through predictive analytic techniques and many cutting edge pricing techniques homeowners and commercial lines enjoy.

Beyond the typical farmowners coverages we have rare expertise with the Multi-Peril Crop Insurance Program (MPCI) and can help you maximize your cession strategies or evaluate and price your reinsurance coverage.

When you partner with Pinnacle, you work with a team of experienced consultants who know the unique requirements of the agriculture industry. Whether it’s developing rates for both Farm Bureau-related insurance products as well as federal crop insurance programs, ongoing loss reserve analyses, funding and feasibility studies for single parent captives, group captives, reciprocals and risk retention groups owned by agricultural companies or a host of other agriculture-related issues, Pinnacle can provide the tools and solutions you need to drive better business decisions and address your toughest challenges.

Our expertise applies to a wide variety of agricultural areas, including:

  • Crop dusters
  • Dairies
  • Farm Bureau-related and other farm insurers
  • Farm services stores
  • Federal crop insurance
  • Fruit farmers and processors
  • Trucking companies specializing in transportation of agricultural products

When you are ready to develop products that meet the evolving exposures in the agricultural economy, think Pinnacle. Our focus is to provide outstanding customer service that exceeds your expectations.

Publications and Media

January 2014 - Apex Discussion Series
Statements of Actuarial Opinion at Year-End 2013
Authored by Joseph A. Herbers.

Pinnacle Predictive Analytics Brochure
Applying Innovation to Drive Success

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Case Studies

Farmowners Product Development
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Farmowners Product Development

Pinnacle was approached by a leading farmowners insurer to review their current farmowners program. Pinnacle conducted a comprehensive review of competitor's manuals to determine if any additional rate factors needed to be included our client’s current program. Based upon our review, Pinnacle made a number of suggestions including incorporating new rate factors and changing their rating algorithm to a scorecard approach that has been successful in many other lines of business. Pinnacle used its expertise in farmowners product development and cutting edge pricing techniques to improve our clients farmowners product.

Funding Study
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Funding Study

Pinnacle was approached by an aircraft manufacturer to provide recommended funding for various aviation and liability coverages. Pinnacle’s initial steps included discussing coverages to be provided and what data was available to complete the funding study. The captive was a start-up with no loss information on which to determine appropriate funding levels. Pinnacle was able to determine that the National Transportation Safety Board (NTSB) had a database of aircraft incidents that recorded both the manufacturer and model of the aircraft involved in the incident. Since the manufacturer was able to provide the number of units produced, Pinnacle was able to determine the frequency and severity of the incidents and project ultimate funding levels. The captive is currently operational after receiving regulatory approval.

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