36 NEBRASKA CATTLEMAN September 2024 1/4 Horizontal Nebraska Cattleman Full Color Eisenmenger Farms, Inc. August 2023 “Big yard features, small yard attention.” Eisenmenger Farms, Inc. Joe Eisenmenger, General Manager ▪ Cell: (402) 920-0665 Customer Relations & Cattle Procurement John Eisenmenger, Yard Manager ▪ Cell: (402) 920-1933 ▪ 9,000 head capacity ▪ Within 100 miles of six packers – three of them major ▪ Within 60 miles of four ethanol plants ▪ Grain banking capabilities of corn ▪ Feed financing capabilities 26708 385th St. ▪ Humphrey, NE 68642 ▪ Phone: (402) 923-0401 ▪ Fax: (402) 923-0404 Eisenmenger Farms, Inc. PEERS NCIG PROTECT AGAINST EXPOSURES TODD BARTEK | FNIC SENIOR VICE PRESIDENT AND DIRECTOR OF AG Running a successful cattle operation involves navigating various risks that can impact your business. From natural disasters to market fluctuations, identifying and managing these exposures is crucial. By implementing a comprehensive risk management strategy, you can safeguard your operation and ensure long-term sustainability. IDENTIFYING EXPOSURES A good starting point for a risk management strategy is identifying your exposures. This step allows you to develop strategies to mitigate these risks effectively. A risk exposure is a potential event or condition that could lead to a financial loss. Consider the following questions: • What would happen if severe weather caused damage to your buildings or infrastructure? • Are you prepared for a drought or flood? • How will market changes affect you? • Would a cybersecurity event prevent you from accomplishing your work? • What affect would a public health crises like an infectious disease outbreak or a release of hazardous material have on your operation? The NCIG team is equipped to assist you with an exposure review and identify ways to mitigate the impact. We use a series of tools, management meetings, reviews and evaluations to present a clear assessment of your exposures and ways to reduce your risk or strategies to be financially prepared. RISK STRATEGIES Loss Control: Our loss control team is available to review written safety policies and procedures and offer guidance for formulating and implementing cost-effective loss prevention strategies. Recognizing and rewarding safe behaviors further promotes a culture where safety is valued. They are especially experienced in the areas of property insurance, workers’ compensation and auto insurance. Together with our carrier partners, we develop a risk management plan based on your specific risk exposures and loss experience to meet your expectations. Risk Retention: Risk retention is a strategy where a business chooses to assume financial responsibility for certain risks instead of transferring them to an insurance company. This approach involves setting aside funds to cover potential losses that may arise from specific exposures. Strategies may include self-insurance programs, captive programs, large retention programs and aggregate or “buy down” deductible programs. Insurance: Insurance shifts the financial burden of certain risks from the business to the insurance company. It provides financial support to cover the costs associated with losses, such as property damage, legal fees, medical expenses and business interruption. This protection helps maintain cash flow and business continuity. The NCIG team can take a detailed look at your coverages to review items like deductibles and policy limits in comparison to your exposures and budget. Types of insurance to consider: • Property Insurance covers damage to buildings, equipment and inventory caused by perils such as fire, storms, theft or vandalism. • Liability Insurance protects against claims arising from injuries or damCONTINUED ON PAGE 38
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