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Global Insurance Perspectives On Climate Change - Environment

Global Insurance Perspectives On Climate Change - Environment
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Global Insurance Perspectives on Climate Change | Cozen O'Connor

Global Insurance Perspectives on Climate Change | Cozen O'Connor
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AGCO Sued Over Tractor Fire - Agriculture

Agriculture
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February 1, 2021
Nationwide Agribusiness Insurance Company, as a subrogee of Michael Sly a farmer it contracts with to provide insurance, claimed in a complaint filed against AGCO Corporation on Friday that the defendant is at fault for property damage due to a tractor it manufactured catching fire and should pay for damages.
The complaint was filed in the Iowa Northern District Court because, as the plaintiff cited, the amount in controversy is over $75,000 and the plaintiff and the defendant are from two different states, but the events occurred in Iowa.
The tractor, a 2017 Fendt 933VS4 Tractor, was reportedly leased by Sly and used on his farm near Correctionville, Iowa. Nationwide Agribusiness Insurance explained that under the terms of its insurance policy it paid a significant amount to Sly for damages after the tractor caught fire, the damage occurred both to the farm and to the tractor. ....

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