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  • Aquaculture (Fish in Ponds) Insurance

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    addsingh
    15 views10 pages
    This policy provides insurance coverage for fish farms. It covers the total loss of fry, fingerlings, or fish due to accident or disease in ponds or lakes. The sum insured is determined by a fisheries officer and premiums are 2.5% of the average fish value annually with a minimum of Rs. 15. The policyholder is responsible for 20% of each loss. Claims require notice within 24 hours and a claim form with a fisheries certificate validating the loss and valuation.

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    This policy provides insurance coverage for fish farms. It covers the total loss of fry, fingerlings, or fish due to accident or disease in ponds or lakes. The sum insured is determined by a fisheries officer and premiums are 2.5% of the average fish value annually with a minimum of Rs. 15. The policyholder is responsible for 20% of each loss. Claims require notice within 24 hours and a claim form with a fisheries certificate validating the loss and valuation.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    15 views10 pages

    Aquaculture (Fish in Ponds) Insurance

    Uploaded by

    addsingh
    This policy provides insurance coverage for fish farms. It covers the total loss of fry, fingerlings, or fish due to accident or disease in ponds or lakes. The sum insured is determined by a fisheries officer and premiums are 2.5% of the average fish value annually with a minimum of Rs. 15. The policyholder is responsible for 20% of each loss. Claims require notice within 24 hours and a claim form with a fisheries certificate validating the loss and valuation.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 10

    Aquaculture Insurance

    (fish in ponds)

    Scope of Cover
    This policy indemnifies the Insured
    against total loss due to accident or
    disease of Fry/Fingerlings/Fish in
    ponds/lakes and other still water
    projects only, subject to certain
    exclusions..
    exclusions
    2

    Sum Insured and Valuation


    This will be done by the Fisheries
    Extension Officer in case of Fish
    Farmers Development Agency or an
    Officer of equal cadre in State
    Government Fisheries Department
    Department..

    Premium Rate
    2.5% p.a. on the average value of the
    fish.. Minimum premium Rs.
    fish
    Rs. 15.
    15.

    Excess clause
    Insured to bear 20%
    20% of each and
    every loss
    loss..

    Basis of Indemnity
    80%
    80% of the value of the fish as per
    valuation decided by the Department
    of Fisheries at the time of loss
    loss..

    Important Exclusions
    Loss due to neglect, carelessness,
    natural
    mortality,
    improper
    management, wilful/malicious act,
    dangerous
    insects,
    predators,
    competitors, variation in pH factor,
    physical/chemical status of water and
    soil, whilst in transit, etc
    etc..
    7

    Claims Procedure
    1. Intimation to the company within 24

    hours..
    hours
    2. Submission

    of completed claim
    form together with certificate from
    the Department of Fisheries for
    reason of loss, death and valuation
    at the time of loss
    loss..
    8

    RURAL NON-TRADITIONAL INSURANCE POLICIES

    10

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