Insurance policies for ASF, FMD hit marketInsurance policies for ASF, FMD hit market
Diseases present significant threat to pork producers and other livestock operations.
September 4, 2018
James Allen Insurance (JAI), Indianapolis, Ind., is launching two new policies designed to protect pork producers and other livestock farmers in the event of a disease outbreak.
The policies – available as a package or exclusively – provide protection if livestock were to become infected by African swine fever (ASF) or foot and mouth disease (FMD), two viruses with potential to significantly disrupt and damage large swaths of the agriculture industry.
Recent outbreaks in China are causing concern across the globe, and JAI determined that it was the right time to act. The company has progressively found solutions to address modern agriculture problems with supportive programs in 47 states.
“Our job is to protect farmers,” chief executive officer Tim Craig said. “If these viruses spread to the U.S., the economic impact to the agricultural industry, to states and on the federal level would be devastating. We’ve worked with our reinsurance partners in European Countries and with many syndicates at Lloyds of London to design an innovative program that provides comprehensive coverage at a very reasonable cost.”
Recently, JAI became the first company to offer coverage for porcine reproductive and respiratory syndrome (PRRS) and porcine epidemic diarrhea (PED) – deadly viruses that pose a specific threat to hog operations.
Brain Bradshaw, a hog farmer located in Illinois, was one of the first individuals to purchase the PRRS/PED policy.
“The industry was in desperate need for this policy,” said Bradshaw. “I signed in December of 2017, and by early 2018, one of our sow units became infected with PED. Once the disease hit, we immediately contacted James Allen Insurance, and they worked with us to guarantee we gained everything back that we lost.”
PED was first introduced to the U.S. in 2013 and can infect both suckling pigs and mature sows, resulting in a 60-100% mortality rate.
JAI works with farmers to create personalized policy plans for their operation based on the number of sows on their farm. The policies for PRRS, PED, ASF and FMD cover financial losses resulting from an unfortunate outbreak of one of these diseases.
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