New research finds many farmers unprepared for emerging risks

New research from Nationwide shows many farmers remain underprepared for growing operational and market disruptions. According to the company’s latest survey, 65% of farmers do not have a formal resiliency or risk management plan in place, even as they face rising uncertainty tied to water availability, natural disasters, supply chain disruptions, market access challenges and other threats.  

Many farmers without a plan said they do not know where to get help, while others cited time constraints as a barrier to preparation. In response, Nationwide launched its Farm Risk Ready initiative, which includes an interactive risk assessment, plan-building tools and other resources designed to help producers identify vulnerabilities and create customized strategies for their operations.  

With so many factors rapidly changing and impacting agriculture, creating on-farm resilience is critical. Building resilience means being ready to anticipate disruption, absorb the hit, adjust as conditions change and recover quickly. That is no longer a nice-to-have. It is essential for surviving the unexpected.