Iowa Public Television


Insuring Livestock

posted on July 27, 2001

Ballet dancers insure their feet, piano players- their fingers -- with the prestigious Lloyd's of London. Now, farmers can also buy from the "high risk" underwriters -- to cover losses from livestock diseases.

A Lloyd's of London subsidiary is offering the first U.S. insurance policies to cover income lost should foot- and-mouth reach America. The policies would also cover losses from mad-cow disease.

Policies are only being offered to dairy farms and cattle feedlots at a cost of fifteen dollars for a dairy cow and five dollars per head for beef cattle. Coverage will be limited to 20 (M) million dollars per state.

Tags: agriculture animals insurance livestock news