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by Jack Fisher, OFBF executive vice-president

One thing farmers know a whole lot about is risk. Since the first seed was put in the ground, farmers found themselves at risk from bad weather, market downturns, bad government policy and a host of other hazards that had the potential to put them out of business. So like any good manager, farmers looked for ways to minimize those risks. They worked to develop crop insurance, marketing programs, organized lobbying efforts and various other risk-management tools that take some of the perils out of what still is a very perilous business.

Farm Bureau has a rich history of helping producers minimize the financial dangers of farming. OFBF was instrumental in developing the co-op system that helped farmers hold down input costs and be assured of a market for their crops and livestock. We've promoted market advisory services, built a radio station and published magazines so that farmers would have timely and accurate information for making management decisions. And of course, Farm Bureau gave birth to Nationwide, a mutual insurance company that helps farmers protect their farms, homes, equipment and health.

Today, Farm Bureau and Nationwide are involved with the "Farm Vision Team." This team brings together Farm Bureau members with Nationwide to identify new kinds of risks that are confronting farmers and developing new insurance products to protect them.

Pollution liability, trespassers hurt while stealing fertilizers or chemicals, biotech crops that pollinate a neighbor's field, or an animal found to be the source of some exotic disease are just a few examples of liabilities farmers potentially face. The Farm Vision Team is at work addressing these kinds of challenges that just a few years ago were not even thought of.

One unique, but growing area of risk management deals with farm families who've chosen to diversify, not by adding livestock or changing the crop mix, but by getting into the business of agritainment. The idea of using agriculture to entertain people is growing rapidly. Ohio, with 11.5 million people living virtually next door to our state's farms, is set up perfectly to allow farmers to make money by giving city neighbors a couple hours of exposure to the much-sought rural life. Hayrides, horse stables, pumpkin patches, produce stands and corn mazes are new-found profit centers for a growing number of farm families. Of course, along with these new ventures come new risks. Liability and other risks associated with inviting people onto the farm are considerably different than if an operation is a traditional production enterprise. The Farm Vision Team is looking at all of the types of exposures that farmers are involved in to find the appropriate insurance solution. The Farmowner policy itself is not always the right coverage. That policy is designed to meet the needs of production agriculture. Where a farmer ventures out into other activities, other types of commercial insurance may be needed. The Farm Vision Team is looking at ways to partner with other companies so that your Nationwide agent will be able to provide the right coverage tailored to the risks involved.

Farming always will be risky. And new businesses associated with the farm will be as well. That's why Farm Bureau and Nationwide are looking at innovative ways to help you protect your business and your family. I recommend you visit with your Nationwide agent to make sure all aspects of your business are properly insured. And if you have ideas on new insurance products that might protect against new risks, please share your thoughts. We're anxious to hear them.