Shiloh
Editor, Senior Moderator
Source: http://www.canadianunderwriter.ca/issues/ISArticle.asp?id=84719&issue=05232008
Business interruption coverage for avian flu soon to be made available
Insurance for business interruption related to avian flu will be made available to Ontario's poultry producers in July 2008, BetterFarming.com reports.
The online professional farming publication reports that the reinsurance company involved in the Cdn$1.5-million pilot project is Endurance Reinsurance of America.
Echelon Inc. of Mississauga is the primary insurer.
The insurance program will be offered to Ontario farmers by the Ontario Livestock and Poultry Council, which has been working on an insurance offering for avian flu since at least 2005, as indicated in a council newsletter.
"The insurance will cover farmers' costs when there's a disease outbreak, including animal deaths even before the confirmed diagnosis, cleaning, disinfecting, business interruption and consequential items such as vet and lab fees," according to BetterFarming.com. "Currently most of these costs aren't covered by governments or anyone else."
The online magazine notes some farmers have business interruption insurance as part of their fire coverage, but they're not sure if it would kick in during a disease outbreak.
"The insurance program is in a pilot stage and will initially be made available only to Ontario egg, chicken and broiler hatching egg producers," the publication reports. "Those elsewhere in Canada will eventually be able to obtain the coverage.
"Initially, only avian influenza will be covered. Other diseases that will be added at a later date include fowl typhoid, Newcastle and ILT.
Business interruption coverage for avian flu soon to be made available
Insurance for business interruption related to avian flu will be made available to Ontario's poultry producers in July 2008, BetterFarming.com reports.
The online professional farming publication reports that the reinsurance company involved in the Cdn$1.5-million pilot project is Endurance Reinsurance of America.
Echelon Inc. of Mississauga is the primary insurer.
The insurance program will be offered to Ontario farmers by the Ontario Livestock and Poultry Council, which has been working on an insurance offering for avian flu since at least 2005, as indicated in a council newsletter.
"The insurance will cover farmers' costs when there's a disease outbreak, including animal deaths even before the confirmed diagnosis, cleaning, disinfecting, business interruption and consequential items such as vet and lab fees," according to BetterFarming.com. "Currently most of these costs aren't covered by governments or anyone else."
The online magazine notes some farmers have business interruption insurance as part of their fire coverage, but they're not sure if it would kick in during a disease outbreak.
"The insurance program is in a pilot stage and will initially be made available only to Ontario egg, chicken and broiler hatching egg producers," the publication reports. "Those elsewhere in Canada will eventually be able to obtain the coverage.
"Initially, only avian influenza will be covered. Other diseases that will be added at a later date include fowl typhoid, Newcastle and ILT.