Challenges and Innovations in Cotton Industry Insurance
Insurance providers have recently been reducing their coverage for the cotton industry, creating challenges for businesses like Southeastern Gin & Peanut in Georgia. Kent Fountain, the president and CEO of Southeastern, emphasized the difficulty in securing carriers willing to insure cotton gins, highlighting the constraints within the property and casualty insurance sector.
In response, Kirby Ingram, Area Executive Vice President at Gallagher, collaborated with Lloyd’s of London to develop a tailored property insurance program for the cotton industry. By late 2025, this initiative attracted over 60 accounts nationwide, offering enhanced coverage with increased limits at competitive rates. Kent Fountain described this program as crucial amidst economic pressures such as reduced production, while Angie Blacketer, office manager at Oasis Gin, noted unexpected premium advantages through this program, affirming Ingram’s dedication to exceeding market offerings.
Furthermore, Blacketer praised Ingram's involvement beyond policy provisions, actively engaging in significant claims discussions and negotiating favorable premiums. His efforts establish him as a critical resource for the cotton industry. The Risk & Insurance Power Broker® award recognizes professionals who excel in client problem-solving and industry expertise, with selections based on risk managers' endorsements, assessed by editors and writers.
Current industry trends, such as the SECURE 2.0 provisions, are reshaping workplace benefits, with Gallagher emphasizing their impact. Aon highlights the significance of wellbeing programs and flexible benefits in managing rising costs. Moreover, AmWins advises proactive risk management to tackle emerging contaminants, capacity constraints, and regulatory challenges.
The insurance industry dynamics also include a surge in securities class actions in 2024, driven by artificial intelligence and COVID-19-related cases, as reported by Cornerstone Research and Stanford Law School. This evolving landscape underscores the need for comprehensive claims management and adherence to regulatory compliance requirements.