Fairfax Financial Holdings Limited (NYSE:FFH)
Industry: Financial
Farm Family Holdings Inc. offers property and casualty insurance through Farm Family Casualty Insurance Company (Farm Family Casualty) and United Farm Family Insurance Company (United Farm Family), and life insurance through Farm Family Life Insurance Company (Farm Family Life). United Farm Family is a wholly owned subsidiary of Farm Family Life. The Company's operations consist of two operating segments: property and casualty insurance; and life insurance. Farm Family Casualty and United Farm Family are specialized insurance companies that provide property and casualty insurance coverages to farms, agribusiness, and other generally related businesses and residents of rural and suburban communities. Farm Family Casualty provides insurance to members of the state Farm Bureau organizations in New York, New Jersey, Delaware, West Virginia and all of the New England states (collectively the Farm Bureaus). Farm Family Life provides life insurance, annuity, and accident and health insurance coverages principally to members of the state Farm Bureau organizations in the same states as Farm Family Casualty and United Farm Family. Membership in a state Farm Bureau organization is not a prerequisite for purchasing insurance coverage from Farm Family Life. Property and Casualty Insurance Business The Company's property and casualty insurance segment includes activities related to the Special Farm Package, a flexible multi-line package of insurance coverages, and other insurance products covering personal and commercial automobiles, business owners, and homeowners. The Company offers a variety of property and casualty insurance products primarily designed to meet the unique insurance needs of its agricultural clients and the general insurance needs of the rural and suburban communities in which it writes business. Many policyholders have more than one policy with the Company. The Company's personal automobile policy provides it with more premium than any of its other products. The Company's industry standard personal automobile policy is generally marketed in conjunction with its other products, such as the Special Farm Package, the business owners policy or the homeowners policy. The Special Farm Package is a flexible, multi-line package of insurance coverages that the Company regards as its "flagship" product. As a result of its flexible features, this product can be adapted to meet the needs of a variety of agricultural and related businesses. The Special Farm Package policy combines personal, farm and business property and liability insurance for agribusiness, as well as owners of other agricultural related businesses, such as horse breeding and training facilities, nurseries, wineries and greenhouses. Commercial automobile is primarily used for commercial automobiles utilized in conjunction with agricultural and related businesses. The Company generally does not seek to market or write its workers' compensation policy apart from a Special Farm Package or a business owners policy. The Company's business owners product (based on the industry standard policy form) is designed to meet the needs of small businesses within its rural and suburban markets. This product is marketed to two distinct groups: "mercantile business owners" with property based risks, including apartment and office building owners and small to medium-sized retail businesses, such as florists and farm markets; and small, established artisan contractors principally serving the agricultural community. The Company's homeowners policy is a standard multi-peril policy for the rural and suburban homeowner. Increasingly, the homeowners policy is being sold to provide coverage for the insured's principal residence, while the Special Home Package is used to insure rural-based, tenant occupied residences. The Company writes commercial and personal excess liability policies covering business, farm and personal liabilities of its policyholders in excess of amounts covered under Special Farm Package, homeowners, business owne
As Of: 04/30 16:13 ET
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