FARMERGIANT NIGERIA LIMITED as an Agricultural Insurance Broker,
Offers to aid you as the Parent company underwrites all classes of Agricultural insurance including
Plantation Fire Insurance
Fishery/Fish Farm Insurance and
Farm All Risks Insurance etc
Other insurance products relating to agricultural risks includes warehousing insurance, goods in transit insurance among others
We can issue each of the above policies either as stand-alone or as a combination of policies
Although, Farmergiant policies are not subject to subsidies from the Government, we have carried out extensive research and actuarial assessment and are pleased to offer the following rates:
Poultry, Livestock, Bloodstock, Fisheries and piggery policies – 2.5%
Crop insurance – 2%
Comprehensive policies covering crop, harvesting, goods in
transit and storage – 3.5%
Farm all risks insurance for plants, machinery and equipment -1%
Pre-Loss Risk Surveys
We have in-house experts who carry out pre-loss surveys of all farms proposed for insurance. These include Veterinary doctors, agronomist and agricultural engineers who have good knowledge of the risks inherent in agricultural practices whether crop or animal production. They will inspect all the major farms and make recommendations in the overall interest of the farmers, the insurers and the financiers.
The Parent company maintains a network of extension officers who are charged with the responsibility of visiting major farms to ensure that they maintain good house-keeping and comply with the recommendations of the experts during the currency of our insurance covers. This is to ensure that the farmers are not unduly exposed to risk of loss without taking adequate measures to mitigate the exposures.
Our staffs are able to adjust and make necessary recommendations on claims. However, where the other expert knowledge is required, we have retinue of skilled independent consultants who are able to advice on complex claims
Where claims are fully documented, agreed and discharged, we settle same within two weeks of discharge.
POULTRY INSURANCE POLICY (sample of policy)
Whereas the Insured named in the Schedule hereto has made to the Industrial and General Insurance Plc a proposal and declaration which shall be basis of this contract and be deemed to be incorporated herein for the insurance herein after contained and has paid the premium stated herein.
THE COMPANY HEREBY AGREES (Subject to the terms and conditions contained herein or otherwise expressed hereon) that if the birds hereafter described be lost by DEATH resulting from ACCIDENT or DISEASE at any time during the period of the insurance stated herein or any subsequent period in respect of which the Insured shall have paid and the Company shall have accepted or agreed to accept the premium required for the renewal thereof the Company will pay to the Insured assessed Value of loss as per the valuation table attached hereto at the time of loss of the Birds.
This policy does not cover death of birds due to:
2.1 Malicious or willful injury or neglect, unskillful treatment.
2.2 Theft, mysterious disappearance or other unaccountable shortage, including infidelity of the insured( s), Grower( s) or employee of either.
2.3 Newcastle Disease,Infectious Bronchitis, Avian Diphtheria, Avian Leucosis Complex, infectious Coryza, Infectious Bursal (Gumboro) Disease, Chronic Respiratory Disease (CRD), Tuberculosis, Marek Disease, Coccidiosis and Colibacilosis Unless the insured birds are properly vaccinated at all times and all other necessary preventive measures are taken against the disease(s) continuously. Suitable certificate of Health from a registered veterinarian to that effect must be produced at the time of the proposal for insurance.
The Company may at any time during the period of insurance call for veterinarian’s . Certificate evidencing such vaccination( s) as falls (fall) due.
2.4 Government slaughter order or slaughter order from any other public authority.
2.5 Earthquake, War, Invasion, Act of foreign enemy, Hostilities (whether War be declared or
not), Civil War, Rebellion, Revolution, Insurrection, Mutiny, Tumult, Military or ‘Usurped Power or any consequences thereof.
2.6 Nuclear energy of any kind
2.7 Fire not covered except if incorporated by Endorsement.
3. LOSS ASSESSMENT
The loss assessment shall be done on the basis of the cost of production at the time of death worked out on the agreed sum insured of the poultry birds.
4. NO CLAIM DISCOUNT (NCD)
Premium on renewal is to be reduced by 5% after a claim free year.
5 SUM INSURED AND PREMIUM
Sum Insured (S.I.)
Layers: Value of Birds at point of lay
Broilers: Value of Birds at time of sale
Pullets: Value at the end of rearing period
Cockerels: Value of Birds at time of sale
Parent-Stock: Value of Birds at point of lay
Grand Parent Stock: Value of Birds at point of lay
1. NOTICE: Every notice and communication to the Company required by this policy shall be made in writing to the nearest office of the Company through which this insurance is effected.
2. IMPROPER DESCRIPTION: This policy shall be void, and all premium paid hereon shall be forfeited to the Company in the event of misrepresentation, improper description or non-disclosure of any material particular.
3. CHANGE OF HAZARD: Before each renewal of the insurance, the Insured shall give a written notice to the Company of the disease, injury or physical defects which the birds had been or are suffering from.
4. REASONABLE CARE: The Insured shall at all times exercise all reasonable care and diligence in the selection of employees and chicks and shall provide that every birds insured has sufficient and proper balance standard feed, water and shelter and shall keep secure, all fences, yards, sheds and cages and shall use and exercise every precaution and in every manner provide the same care and attentions as if no insurance had been effected. The insured shall not introduce or permit to be Introduced any disease infected bird among any insured stock or upon any part of his premises nor allow/permit the insured stock to mix with diseased or infected poultry or enter into sheds, buildings or any other place where such affected poultry are. The insured shall also arrange for any poultry suffering from any disease to be completely separated or isolated from the remainder of his stock immediately upon the discovery of the illness and shall take all necessary and proper Precaution to protect the healthy stock from any danger of infection. Biosecurity measures must be put in place.
5. INSPECTION: The Insured shall permit the authorized representatives of the Company at all times to inspect the poultry hereby insured at the premises of the insured and also furnish any information which the Company may require and shall comply with all requirements applicable to the poultry industry under the statutes, rules or regulations stipulated by Government or any other Authorities. The Insured shall also comply with the directives/risk improvement measures which may be issued by the Company from time to time.
6. MAINTENANCE: The Insured shall have proper and adequate Veterinary facilities and must ensure good house keeping of the farm. Poultry should be acquired only from approved standard Hatcheries. Proper record of daily stock position, feed consumption and egg production must be well maintained by the Insured. The Veterinarian’s Certificate should be submitted (as prescribed) for the replacement of poultry added during the currency of the policy).
7. CANCELLATION: The Company may at any time, by giving seven days notice in writing by registered letter to the Insured at his last known address, cancel this policy in which case the Company shall return to the Insured a proportion of the last premium corresponding to the unexpired period of insurance.
8. CLAIM PROCEDURE: The Insured or his agent shall upon the occurrence of any event giving rise or likely to give rise to a claim under this policy, give immediate notice by the quickest means within 24 hours to the Company which may instruct an approved Veterinarian on its behalf if deemed necessary for independent investigations and treatment along with any registered Veterinarian by the Veterinary Council of Nigeria appointed by the insured and shall within 14 days thereafter furnish to the Company at his own expense detailed particulars to substantiate the claim as the Company may require and employ immediately at his own expense a registered Veterinarian for treatment and comply strictly with his instructions. In the event of the death of any bird thereby insured, if required by the Company the Insured shall at his own expense have a Post Mortem report, and submit full particulars of his claim to the Company. All dead birds should be separated and shown to the representative( s) of the Company or any person( s) authorized by the Company
9. SUBROGATION: If the death of any of the poultry birds hereby insured shall be due to negligence, Carelessness or wrong doing of any person, the Insured shall, at the expense of the Company do, and concur in doing, and permit to be done, all such acts and things as may be necessary or reasonably required by the Company for the purpose of enforcing any rights and remedies, or of obtaining relief or indemnity from the culpable party to which the Company shall be or would become entitled or subrogated upon its paying for or making good any loss or damage under this policy, whether such acts and things shall be or become necessary or required before or after his Indemnification by the Company.
10. MINIMUM LOSS TO ATTRACT CLAIM: In order to qualify for indemnity under this policy, the following minimum loss must have been incurred:
Layers Above 10% of total stock
11. EXCESS CLAUSE: In the event of any loss for which the Insurer is liable,
the Insured shall be responsible for 10% of each and every claim.
12. CESSATION OF RISK: This policy shall cease to cover any poultry immediately the Insured sells it or part with any interest in it whatsoever whether temporarily or permanently.
13. CONTRIBUTION: If at the time of any loss covered by this policy there shall be any other insurance covering the same poultry whether effected by the Insured or not, the Company shall not be liable for more than its rateable proportion thereof.
14. FRAUD :If any claim under this policy shall be in any respect fraudulent or if any fraudulent means or devices are used by the Insured or anyone acting on the Insured’s behalf to obtain any benefit under the policy, all benefits under the policy shall be forfeited.
15. ARBITRATION CLAUSE: All differences arising out of this policy shall be referred to an Arbitrator to be appointed in writing by the parties in accordance with the statutory provisions on that behalf for the time being in force, and in case of disagreement between the Arbitrators, to the decision of an umpire who shall have been appointed in writing by the Arbitrators before entering upon the reference and an award shall be a condition precedent to any liability of the Company or any right of action against the Company. If the Company shall disclaim liability to the Insured for any claim hereunder and such claim shall not within six calender months from the date of such disclaimer have been referred to Arbitration under the provision herein contained, then the claim shall for all purposes be deemed to have been abandoned and shall not thereafter be recoverable hereunder.
16. OBSERVATION OF TERMS AND CONDITIONS: The due observance and fulfilment of the terms, conditions and ,endorsements of this policy in so far as they relate to anything to be done or complied with by the insured and the truth of the statements and answers given in the proposal form shall be a condition precedent to any liability of the Company to make any payment under this policy.
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