Prospective Foal Cover
GUIDANCE NOTES - BLOODSTOCK INSURANCE
Prospective Foal Cover
Some Key Points
Your unborn foal is insured against death from natural causes, either whilst in utero or after it is born. Additionally, it is covered if it has to be destroyed on humane grounds by a qualified veterinary surgeon in order to relieve incurable suffering. Theft coverage is also included.
At inception of cover the mare carrying your unborn foal must be confirmed in sound health with this being documented by either a veterinary certificate or a declaration of health, whichever is requested. Pre-existing conditions that are potentially life threatening will be excluded from cover.
However, at renewal of an annual policy, provided the condition has been notified to insurers, losses arising from it will be insured for a further period of 365 days. Your annual policy has been endorsed to include the Twelve Months Extension clause (as shown in your Certificate of Insurance).
If your policy covers a period of less than twelve months an extension period of 30 days applies. You policy in such circumstances has been has been endorsed to include the Extension Clause for Short Term policies (as shown in your Certificate of Insurance).
Except as provided for in the applicable extension clauses, once a policy has expired there is no further coverage for any potentially life threatening conditions.
The policy EXCLUDES the risk of multiple pregnancy, unless satisfactory ultrasound scans confirming a single foetus have been performed at the appropriate dates set out in the policy wording. The results of the ultrasound scans must be documented in a certificate issued by a qualified veterinary surgeon for this exclusion to be removed by insurers.
There must be visible proof of a dead foetus or foal, certified by a qualified veterinary surgeon, unless a satisfactory manual pregnancy examination and/or ultrasound scans have been performed at the appropriate dates set out in the policy wording. The results of these pregnancy examinations must be documented by a veterinary certificate in order for this requirement to be waived by insurers.
You must vaccinate your mare fully and correctly against Equine Herpes Virus 1 (EHV-1) and Equine Herpes Virus 4 (EHV-4) as described in the policy wording.
When the foal is born, you must ensure that the IgG levels are tested between 12 and 24 hours after its birth. Plasma must be available for transfer if recommended on veterinary advice.
The indemnity given by the policy is the sum insured (expressed as the limit of liability in your policy) or the fair market value of the foal at the date of loss if that is less. It is NOT an agreed value policy and the onus rests on you to justify the foal’s value in the event of a claim if required by insurers.
FACTORS WHICH AFFECT YOUR PREMIUMS
Factors which affect the level of your premiums include the sum insured or limit of liability you select, your share in the foal, the location of the mare carrying your foal, the age and health of the mare carrying your foal, your insurance and claims history and the period you require for the policy. Generally speaking premiums for periods of cover of less than one year are greater than pro rata - the short term premium scale is shown in your policy document. Stable discounts are offered for policies covering more than one horse depending on the overall values insured.
The Policy will NOT pay
For any veterinary fees incurred by you in treating your mare or foal, or post mortem expenses in the event of its death.
For any liability arising from damage or injury caused by your foal.
If you have your foal or the mare carrying your foal destroyed on economic grounds.
For losses due to terrorism.
For losses arising directly or indirectly from Avian Influenza
Your Responsibilities
In order to make sure that your policy will respond in the event of a claim it is very important that YOU SHOULD NOTIFY US if:-
It becomes apparent that the sum insured or limit of liability exceeds your foal’s fair market value you should then instruct us to make the requisite adjustment to the sum insured under the policy.
Alternatively you should inform us if you feel the sum insured justifies an increase.
Your foal or the mare carrying your foal is going to move outside the territorial limits shown on the policy.
You dispose of any interest in your foal.
Your foal or the mare carrying your foal suffers any illness, disease or injury. In such event you must arrange immediately to have it treated by a qualified veterinary surgeon.
Your foal or the mare carrying your foal undergoes any surgical operation within 14 days of such operation taking place.
Your foal or the mare carrying your foal dies. You must then arrange for a full post mortem examination to be carried out.
Your foal or the mare carrying your foal is stolen.
FAILURE TO ACT IN ACCORDANCE WITH THE POLICY CONDITIONS MAY INVALIDATE YOUR POLICY
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Finance & Administration Departments: F +61 7 5531 6888 | info@magicmillions.com.au