Financial insurance
Voluntary insurance of farm animals
The voluntary insurance of farm animals involves the indemnity to the Insured for death (including forced slaughter), loss of the insured animals, and costs of treatment of animals due to loss of their health.
Insurance risks
Insurance event is death (including forced slaughter), loss of insured animals, and emergence of the costs of treatment of animals due to loss of their health, confirmed by documents issued by a veterinary institution or a sole proprietor engaged in veterinary activity and licensed for this work, as a result of:
- infectious diseases;
- parasitic diseases;
- communicable diseases;
- accidents (electric current, solar or warm shock, freezing, suffocation, sudden poisoning by poisonous herbs or substances, attack of wild animals, bites by snakes or poisonous insects, hit by vehicles and other traumatic injuries and drowning);
- natural disasters (earthquakes, floods, avalanches, storms, hurricanes, lightning, storm, hail);
- acts of third parties, including theft, robbery;
- fire, explosion.
Insurance premium
The insurance premium is determined based on the size of insurance amount and tariff rates.
Tariff rates for the insurance of farm animals with 1 year insurance period (% of insurance amount)
| № пп | Group of insurance risks | ||||||||
| Theft | Disease | Accident | Disaster | Unlawful act | Fire, explosion | All risks | |||
| 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | ||
Cattle | |||||||||
| 1 | minimum | ||||||||
| 2 | base | 1,5 | 2,3 | 1,0 | 0,28 | 0,33 | 0,32 | 5,73 | |
| 3 | maximum | ||||||||
Horses, camels | |||||||||
| 4 | minimum | ||||||||
| 5 | base | 4,32 | 1,03 | 0,3 | 0,4 | 8,8 | 4,85 | ||
| 6 | maximum | ||||||||
Donkeys, mules | |||||||||
| 7 | minimum | ||||||||
| 8 | base | 4,32 | 1,03 | 0,3 | 0,4 | 8,8 | 4,85 | ||
| 9 | maximum | ||||||||
Sheep, goats | |||||||||
| 10 | minimum | ||||||||
| 11 | base | 6,13 | 7,30 | ||||||
| 12 | maximum | ||||||||
Pigs | |||||||||
| 13 | minimum | ||||||||
| 14 | base | ||||||||
| 15 | maximum | ||||||||
Fur-bearing animals and rabbits | |||||||||
| 16 | minimum | ||||||||
| 17 | base | 11,58 | 0,8 | 0,21 | 0,32 | 0,43 | 13,9 | ||
| 18 | maximum | ||||||||
Ovarian-breed poultry | |||||||||
| 19 | minimum | ||||||||
| 20 | base | 0,41 | 0,05 | 2,03 | |||||
| 21 | maximum | ||||||||
Birds at poultry farms specializing in the production | |||||||||
| 22 | minimum | ||||||||
| 23 | base | 0,67 | 0,045 | 4,05 | |||||
| 24 | maximum | ||||||||
Family of bees (in hives) | |||||||||
| 25 | minimum | ||||||||
| 26 | base | 1,84 | 1,57 | 0,3 | 2,4 | ||||
| 27 | maximum | ||||||||
In fixing the insurance premium, the Insurer has the right to apply the mark-up and mark-down factors to the base tariff rates ranging from 1.0 to 1.1 and from 0.8 to 1.0, respectively, depending on the breed, age and place and purpose of animals and other factors of the insurance risk. When included in the insurance contract for epizootic diseases, the rate will double. The specific value of factors is established based on the analysis of data for the last five years, preceding the year of insurance, the deviation of frequency of events included in the insurance risk of the insured farming from the values, on which basis the rates were calculated.
Franchise
Insurance contract specifies a franchise, which type and amount are determined by agreement between the Parties and set either a percentage of the insurance amount, or in absolute terms.