Posted May 18, 2017 by Administrator
Raising livestock and poultry is a risky business. That is why farmers need adequate insurance to cover their animals from unexpected events. Farmers have a variety of options available to them when it comes to farm animal insurance. They can opt for customized coverage for the specific types of animals they raise or combine several different policies.
Fundamentals of Livestock Insurance
Farmers can often combine their livestock coverage into their overall farm package. This way, they can have adequate protection for their buildings, livestock, and poultry in the event of a death due to accident or injury. Some policies cover animal deaths due to illness as well, but this is specialized coverage.
Farmers can use the following methods to insure their animals:
- Herd Coverage: This is the most basic and common coverage. Farmers use this type of insurance to cover a precise number of animals.
- Blanket Coverage: This type of policy insures all farm property. It includes buildings, livestock, equipment, and so on.
- Individual Coverage: This policy covers animals with higher worth. The policy explicitly states which animals are covered. The corresponding animals often have an identifying feature such as an ear tag.
Farmers can also purchase insurance unique to their livestock. Some examples include:
- Cattle insurance
- Pig insurance
- Poultry insurance
Farm insurance packages often cover animals such as sheep and goats, so farmers do not need specific policies for these animals.
Farmers invest a lot of time and money into their animals. For many farmers, their livestock is their livelihood so they cannot afford to neglect insurance. To learn more about insuring livestock, contact the experts at Cline Wood.
This document is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. Marsh & McLennan Agency LLC shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting or legal matters are based solely on our experience as consultants and are not to be relied upon as actuarial, accounting, tax or legal advice, for which you should consult your own professional advisors. Any modeling analytics or projections are subject to inherent uncertainty and the analysis could be materially affective if any underlying assumptions, conditions, information or factors are inaccurate or incomplete or should change.
Posted April 22, 2015 by Administrator
Pig farmers in America are facing a new disease outbreak called porcine epidemic diarrhea virus (PEDV), a disease that causes severe diarrhea and dehydration. Instances of this virus were found mostly in Europe and Asia until 2013; it has since spread through the U.S. and Canada.
While PEDV does not pose a threat to humans and the consumption of meat from infected animals is not a danger, it does impact the pig population, causing economic loss for affected farmers. Newborn piglets that are exposed PEDV generally die within a few days; older animals face severe sickness and weight loss.
According to U.S. legislators, since the inception of the epidemic in 2013 more than 4 million pigs have been lost, resulting in major losses to agriculture’s economic landscape, continues to threaten over 550,000 jobs and threatens the $34.5 billion pork industry.
In addition to swine, feed and veterinary groups working to save livestock, truck transport is an important factor in keeping livestock healthy and clean.
Here are a few tips to prevent infections from reaching your farm and your pigs. Even a small infection can cause an outbreak, according to swine specialist Bob Thaler, South Dakota State University.
- When loading and unloading your trucks, use disposable boots.
- Ensure proper truck washing techniques, including using spray disinfectant and drying the truck at 160 degrees for 10 minutes (or one week at room temperature) to be certain the truck is properly cleaned and disinfected.
- Take extra precautions in convenience stores near hog-selling locations. The PEDV can easily be transmitted in public places where the virus can be spread through your boots to your livestock at home.
Posted March 13, 2015 by Administrator
Livestock auctions present a crucial opportunity for agribusiness transactions to take place. Yet the unique risks involved make traditional business coverages woefully inadequate. Cline Wood understands these challenges, and offers a range of products specifically tailored to this purpose. This includes:
- Convenient Pay Plans
- 48 Hour Turnaround on Livestock Claims
- Property & Casualty Programs
- Specifically Tailored Livestock Coverage
- Payment Insurance Available
To learn more, discuss your livestock auction exposures with us today.