Agribusiness

With unpredictable and ever-changing weather conditions, supply chains are vulnerable to disruption. As agriculture is an integral part of our lives, the risks run high. Whatever segment of the agricultural industry that you’re in, insurance can help save your business should any catastrophe occur.

Thailand is widely renowned for its agricultural capabilities, as the vast majority of countries in the world chooses to import certain products from Thailand. The rise in trend of plant-based diet has also seen Thailand considered as one of the main hubs for such a production. Having already demonstrated prowess in wheat, seafood, fruits and vegetables, the industry has proved its weight in gold and will only get bigger. With high demand, any missteps can be detrimental and have damaging knock-on effects to the supply chain. Thus, it is highly recommended to financially protect your business with insurance.

Just like home insurance, your livestock is like your home contents; it is valuable to you. If your livestock gets damaged or stolen, then your business can be severely affected. Furthermore, injuries can happen at any time leading to death, causing your operation to pause to a halt. With insurance, this can be covered, as well as other perils such as fire, explosion and vehicle accidents. On the other hand, your animals could also hurt visitors and damage their vehicles, and liability policies can protect you from getting financially hurt.

With risks of price fluctuations and crop loss from pest outbreaks and extreme weather conditions, uncertainty is always present in producing crops. Especially in Thailand, where it is susceptible to long droughts as well as torrential rainfall, the ability to maintain an equilibrium in producing crops will have obstacles to maneuver. With such risk, insurance can compensate you should the weather prohibit you from optimum production.

Farming equipment is one of the most important investments for farmers. Hence, you do not want your agricultural machinery to get damaged or stolen, as it would affect your ability to earn your income. Emphasized by the technological advancement in the industry, there is more reliance on machinery than ever before. Equipment such as tractors, sprayers, planters, harvesters andi irrigation systems are the backbone of the farming operation and protecting those assets with insurance can be seen as financial protection.

We are accustomed to the risks in the agribusiness industry. Our insights and expertise can provide the competitive advantage you need, as we continue to strive to provide knowledge of emerging risks while providing strong coverage at an optimum price.

Through our vast experience, CHAZ Insurance Brokers Ltd. recognizes and understand that each and every business, organization and industry are unique in their own ways and can have completely different risks. Henceforth, the content provided are solely examples of the risks that may or many not be relevant to your business. To learn more, contact us on the form below.