Ragwort has two growing stages, of which the earlier is a flat rosette. Horses kept on starvation paddocks - as many owners do these days, in the war on laminitis (huge topic, not going into that here....) - may not have much choice about what they munch, and can't see the ragwort rosettes to avoid them.
Ragwort poisons over a period, toxins building up in the liver. I have heard a couple of stories where vets have decreed that the ragwort standing in the field was the culprit for a sudden death - in cattle as well as equines - but that makes no sense whatsoever to me. Horses which are poisoned by ragwort develop symptoms over time, they are not healthy one day and dead the next.