This policy provides coverage for agricultural businesses including livestock, poultry, fishery and crops against mortality and perils.
A. LIVESTOCK INSURANCE
The policy is designed to indemnify the insured in the event of death of any animal caused by the insured perils which include fire, lightning, windstorm damage, flood, diseases and accident up to the value of the animal as specified in the schedule.
B. POULTRY INSURANCE
The policy will indemnify the insured in the event of:
- Mortality of any stock from the farms specified in the policy, resulting from the insured perils.
- Losses to stock during the rearing period and egg laying period and to broilers (except losses occurring during the Waiting Period).
- The broilers are insured up to the time of harvesting subject to maximum age of 10 weeks.
- Layer are covered up to maximum age of 80 weeks.
- Breeders are covered up to the maximum age of 64 weeks.
- Death (by fire or otherwise) to the livestock insured directly caused by the burning whether accidental or otherwise, of forests, bush, or jungle and the clearing of land by fire (EXCLUDING such clearing by or on behalf of the insured).
The policy has some exclusions/exceptions, terms and conditions
C. FISHERY INSURANCE
The policy is designed to compensate the insured for (i) DEATH resulting fire, lightning, windstorm damage, flood, diseases, accidents and (ii) COLLAPSE of the fish pond and will indemnify the Insured assessed cost of production for the fish stock and the cost of construction of the Pond(s) up to the sum insured.
Each fish would be insured on the basis of the cost of production, which starts with price of a fingerling/seedling including costs of inputs up to the end of production cycle or the insurance years.
- Table or market size fish: cost of fingerlings plus estimated production cost up to the end of production cycle;
- Breeders: value of fishes at the commencement of cover plus estimated production cost for 12 months;
- Ponds: estimated value of construction;
The Policy has exclusions/exceptions as well as other terms and conditions
D. MULTIPERILS CROP INSURANCE POLICY
The policy will ensure the farm, during the period beginning from planting to maturity, against the risks of physical loss or damage to crops that is caused directly the following perils:
Fire: Combustion or burning that results in destruction or damage to the insured’s crops.
Lightning: As in electrical spark discharge by free electrons in the sky that can lead to the burning and destruction of the farm
Aircraft: Damage by aircraft and other aerial devices and/or articles dropped therefrom.
Windstorm Damage: This is atmospheric disturbance which may or may not be followed by rain.
Flood: This is overflowing of deviation of water from its normal channels of either natural or artificial courses, bursting or overflowing of water tanks, apparatus or pipes.
Outbreak of Pest and Disease: This means any disease or insect or pest which cannot be avoided or controlled despite adoption of normal disease and/or pest prevention and control measure which must be done to the standards recommended by the local farming industry and to the satisfaction of relevant responsible authority.
Bush Fire: Covers damage to the property directly caused by the burning whether accidental or otherwise of forests, bush or jungle and clearing of land by fire (except where clearing is for the insured).
There are some exclusions/exceptions, terms and conditions