By Scout Nelson
A two-day workshop on captive insurance for agriculture will take place December 2–3 at Nebraska Innovation Campus in Lincoln. Hosted by the University of Nebraska–Lincoln’s Department of Agricultural Economics, the workshop will focus on modern approaches to risk financing and how captive insurance may offer new opportunities for agricultural operations.
The event, titled “Strategic Risk Financing in Agriculture: The Case for Captive Insurance,” will bring together producers, agribusiness professionals, and service providers to discuss how captives can be used as part of a broader risk management strategy.
Captive insurance companies are unique because they are owned by the businesses they insure. While common in industries such as manufacturing and health care, their use in agriculture remains relatively new.
The workshop aims to help participants understand how captives operate, what questions to consider before forming one, and how they fit within existing insurance tools. “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.”
Captive insurance can offer benefits such as enhanced risk coverage, improved cost control, financial returns, and untaxed premium reserves. These structures are not meant to replace standard crop or property insurance.
Instead, they can add an additional, customized layer of protection. Walters explained that captives can fill gaps when traditional insurance products do not align with the specific risks an operation faces.
The workshop agenda features sessions on insurance market trends, alternative insurance capital, the history of captive insurance, governance and tax issues, and specific applications within agriculture. Panel discussions will allow participants to hear from individuals who have formed captives and learn from experts who guide captive development.
Registration costs $240 for agricultural producers and $440 for all other participants. A 20% early-bird discount is available for registrations completed before November 14. Details and registration information can be found at agecon.unl.edu/captives.
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Categories: Nebraska, Equipment & Machinery, Rural Lifestyle, Farm Safety