Farmers Explore Advanced Risk Management Tools at UNL

By Scout Nelson

The University of Nebraska Lincoln’s Department of Agricultural Economics will host a two-day workshop, “Strategic Risk Financing in Agriculture: The Case for Captive Insurance,” on December 2 and 3 at Nebraska Innovation Campus in Lincoln. The event is designed for farmers, ranchers, agribusiness leaders, and service providers to explore captive insurance strategies for agriculture operations.

Captive insurance companies are fully owned by the businesses they insure. While commonly used in industries such as manufacturing, health care, and transportation, they are a relatively new tool for agriculture. The workshop will provide clear insights into how captives work, important questions to ask, and how they can complement existing risk management strategies.

“We want to help producers and their advisors separate fact from fiction when it comes to captives,” said Cory Walters, associate professor in the Department of Agricultural Economics. “These insurance structures are not for everyone, but they may provide opportunities for some operations to cover risks that traditional policies don’t address well.”

For example, a farmer with a revenue protection crop insurance policy at 70% coverage could form a captive to cover additional losses, complementing rather than replacing their existing plan.

Workshop sessions will cover current insurance market trends, alternative insurance capital, the history and scope of the captive market, and governance and tax considerations. Panel discussions will feature producers with experience in captives and experts providing practical insights. The event will conclude with guidance on long-term risk management planning.

Registration is $240 for farmers and ranchers and $440 for others, with a 20% early-bird discount available for registrations before November 14. More details and registration form are available on the workshop website.

Photo Credit: pexels-fauxels.