At Nova Mutual, we’re more than home and auto protection. We also empower local farmers and businesspeople by protecting their livelihood through customised insurance packages and truly personalized service. We believe in learning your story so we can create the right coverage combination for U. No matter what business you’re in.
We asked Agribusiness Underwriter, Brent Roloson and Commercial Underwriter, Nicole Hoskins to tell us what Farmers and Business Owners are looking for most in an insurer. Here’s what they had to say.
So, Brent, beyond the obvious, what are modern farmers looking for from their Insurance Company?
“Members are looking for insurance companies to work with them to understand their specific needs. For example, large farming operations are introducing new technology on a regular basis to help streamline processes and becoming more data-focused to help improve overall production/product yields. The most common question asked is – Am I covered?”
Is the same true for your Commercial Members, Nicole?
“Absolutely. Businesses are often trying new things to remain relevant to their customers. It can be as simple as a retail store participating in a local Christmas Market or as involved as a Landscaping Company embarking on a new excavating project. Both endeavours require insurance protection and Members often reach out to ask if they are covered.”
Interesting! I wonder if there’s a type of risk that is often overlooked? What type of protection is Nova Mutual’s most up-and-coming business Member demand?
Nicole: “Definitely Cyber Coverage. Did you know that Canada ranks third among countries most vulnerable to Cyber Attacks?* Small businesses often make themselves vulnerable when they dismiss the possibility of an attack because they think “it won’t happen to me”. Members aren’t always sure what Cyber Coverage includes so they sometimes pass on it because of that. It’s our job as a Member-centric insurance company to help Members make informed decisions about modern risks to their business.
Wow. Member needs and our Insurance Products sure have evolved over time. The one thing that remains constant is the way the Mutuals treat people; we see the person behind the policy. Tell me about the steps that Nova Mutual Underwriters take to keep this most important tradition at the core of how we do business?
Brent: “Nova Mutual takes the time to look at each policy renewal. We look at the history, the changes and the potential impact of each Insured. We are particular and careful to ensure the protection matches the requirements of each Agribusiness Member’s unique farm setup. Farming is their livelihood and Nova Mutual strives to be where Members turn for support on their best day, and especially on their worst day.
Nicole: “…Especially on their worst day! Business owners, entrepreneurs need to be able to rely on their Insurer to have their best interests at heart. We work and live in the community alongside our Members and because of that, we can truly empathize with them. We understand what it takes to be successful in southern, rural Ontario.”
Speaking of running a successful company, profitability is an unignorable quality. How can farmers and business owners get the best value from their Insurance provider?
Nicole: “Loss of Income Coverage is an amazing product. If a loss is affecting a Member’s ability to continue making their usual revenue – this coverage will replace that lost income. Being able to focus on progress is a lot easier when you’re not scrambling to cover the bills that keep rolling in. Nova Mutual will cover expenses like rent, hydro, insurance, vehicle payments, mortgage, contract obligations and more. Income Replacement ensures that Nova Mutual will pick up their ongoing payments during such a difficult time.”
Brent: “On the farming side, protection required is highly customizable. Nova Mutual has a wide variety of Agribusiness insurance products to help Farmers get the most out of their hard-earned dollar. Great relationships with our farming Members helps us keep the conversations going so we can match them with the right coverage for their operation.
Interested in learning more about how Nova Mutual can improve your experience as a business owner or farmer? Reach out to one of our Nova Mutual Agents or trusted Broker Partners. We’re sure to have an insurance solution to help you on your way to running a profitable and dynamic business…no matter the size.
Written by Gloria Field for Nova Mutual Insurance
*The National Exposure Index