VMD 511: Animal Welfare, Ethics and Jurisprudence (2+0)

INSURANCE POLICY

• Livestock can be insured through two types of policies
  • proposal-cum ­policy and
  • master policy agreement.

Proposal-cum-Policy

• The owner is required to fill the proforma called "proposal-cum-policy with receipt and veterinary certificate" after obtaining the health certificate. This proforma may be filled by the authorised agent of the insurance company and by a qualified veterinarian. The proforma contains information about:
  • Owner - his name, address and occupation.
  • Period of insurance, from .................................. to ..............................
  • Particulars of animal-species, breed, sex, colour, age, identification marks, height, purpose for which used, total number of calvings, date of last calving, present market value and sum for which to be insured.
  • Location of dairy farm
  • Premium amount
  • Cause of loss and number of animals lost during past three years.
  • Special remarks if any.
• There is a declaration in this form by the owner stating that all information given by him is true to the best of his knowledge and belief There is also a certificate by a qualified veterinarian indicating that the animal mentioned is in good and sound health, free from any vice, and has been vaccinated against prevailing contagious diseases. The lower part of this form has a detachable receipt showing that the premium amount has been received by an authorised agent of the company. After payment of the premium and completion of the above formalities the animal is deemed as insured from this date.

Master policy agreement

• Since financed animals have to be insured in large numbers and as a day-to-day practice, a Master Policy Agreement is generally entered into by the DRDA or various banks with an insurance company. Under this agreement the bank or the DRDA agrees to insure all its finance cases through one particular insurance company for an agreed period. Only one master policy is issued at the inception. The various animals financed during the period of this policy agreement, which may range from three to five years, are covered under the policy through individual insurance certificates. Certificate books are provided to different banks or DRDA by the company. Whenever a case is financed, they issue a certificate of insurance giving all particulars and send it to the company along with the health certificate and premium amount. The advantage here is that owner does not have to wait for the insurance agent for insurance and also, under the agreement, the animals are covered right from the date and place of purchase.