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The following information is provided by Nationwide, the official insurance and financial services provider of Ohio Farm Bureau.

In a recent survey¹ conducted by Nationwide, it was revealed that a staggering 65% of farmers do not have a plan to manage or mitigate risks.

NationwideThis alarming statistic highlights the urgent need for farmers to reassess their approach to risk management, especially as the challenges they face are becoming increasingly complex.

“Farmers and ranchers, like most of us, tend to focus on their current risks, but they should also be thinking about what risks or disruptions could impact their growth, transition, etc. five years from now,” said Laramie Sandquist, Sr. AVP, Nationwide Agribusiness Risk Management.

The growing complexity of farming risks

Farming is inherently risky, with numerous factors threatening a farm’s ability to achieve its goals. As we look to the future, these risks are expected to become even more intricate, necessitating a fresh perspective on how to effectively identify, analyze and manage them.

Some of the emerging risks include:

  • Frequent and Severe Weather Events: The U.S is experiencing more unpredictable and extreme weather patterns.
  • Labor Disruptions: Policy changes and workforce shortages can hinder essential farming tasks.
  • Market Access Issues: Operational challenges at processing plants can disrupt the sale of produce.
  • Technological Threats: Data breaches and ransomware attacks pose significant risks to farm operations.
  • Regulatory Changes: New restrictions on fertilizer use and livestock management can create operational hurdles.
  • Tax Policy Shifts: Changes in estate taxes can impact the ability to transition the farm to the next generation.
Assessing your farm’s preparedness

Given these potential disruptions, it’s crucial for farmers to evaluate their preparedness. Consider the following questions:

  • How vulnerable is your farm to these threats?
  • Are your assets and resources adequately protected?
  • Do you need to expand or rethink your current partnerships?
  • Can some risks be mitigated with simple prevention strategies?
  • What is your tolerance for downtime or lack of market access?
  • How would unexpected disruptions impact your long-term goals?
Financial impact of risks

The survey also highlighted the significant financial impact of risks on farmers:

  • More than 80% of farmers have experienced adverse weather events, with an average loss of $250,879 per farmer.
  • Half of the farmers reported supply chain disruptions, averaging $49,228 in losses per event.
  • 40% of farmers lost key markets for their crops, incurring average losses of $149,626.
Proactive risk management: a necessity for long-term success

To help navigate these complex risks and limit potential disruptions, farmers must adopt a proactive approach to risk management. Here are some steps to get started:

Conduct a Risk Assessment: Identify potential risks, including safety hazards, legal liabilities and financial threats.
Develop a Plan: Create a comprehensive plan to mitigate identified risks.
Enhance Farm Resilience: Work with insurance providers to implement strategies that make your farm more resistant to disruptions.

By preparing for future risks, farmers can protect their operations and ensure long-term sustainability. Embracing risk planning and working with experts like a Nationwide-appointed agent can help farmers better navigate uncertainties and secure their farm’s future.

References: 1. Nationwide. 2024 Farmer Resiliency Study. Retrieved December 2024. Nationwide, the Nationwide N and Eagle, and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. © 2025 Nationwide.

New and beginning farmers
My first recommendation in your journey is to start out with a local farming friend or mentor along with joining an organization like Ohio Farm Bureau.
Greg McGlinch's avatar
Greg McGlinch

Darke County Farm Bureau

Growing Tomorrow Grant
We’re just so thankful for the Farm Bureau and the foundation for helping put this together. And of course, the Boyert family for the vision they had with this grant. It’s jumping us forward 10 years. It’s unbelievable.
Nathan and Jill Parriman's avatar
Nathan and Jill Parriman

Clermont County Farm Bureau

Bringing the farm back to life
I could not have done it without the resources I have found through Farm Bureau.
Gretchan Francis's avatar
Gretchan Francis

Trumbull County Farm Bureau

Youth pathways in Farm Bureau
It wasn’t until I joined the Wilmington College Collegiate Farm Bureau that I truly saw how my passion could translate into leadership, advocacy and a career.
Wyatt Morrow's avatar
Wyatt Morrow

Clinton County Farm Bureau

Giving farmers a voice
The issue of property taxation remains as one of the biggest challenges our members face today. Ensuring agricultural property is valued for its agricultural potential and not development is critical to the continued success of Ohio agriculture.
Matt Aultman's avatar
Matt Aultman

Darke County Farm Bureau

Select Partner Program
Through the Select Partner program, we became educated in farm insurance and weren't just selling policies. It became more and more clear why farmers need an advocate like Ohio Farm Bureau.
Chad Ruhl's avatar
Chad Ruhl

Farm manager, CSI Insurance

Advocacy
So many of the issues that OFBF and its members are advocating for are important to all Ohioans. I look at OFBF as an agricultural watchdog advocating for farmers and rural communities across Ohio.
Mary Smallsreed's avatar
Mary Smallsreed

Trumbull County Farm Bureau

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