-
Livestock mortality insurance is written for the purpose of protecting
the actual investment of the livestock owner, not potential gain or
profit.
-
A mortality policy cannot be construed in any way as a maintenance
coverage; it does not include veterinarian or similar expenses.
-
Indemnity is payable only as a result of death loss.
-
Mortality coverage does not indemnify an insured against loss of an
animal's ability to perform the
functions for which it is kept.
-
Death from natural or accidental causes is included but mandatory
slaughter by governmental authority or decree, or for expediency is not
included.
-
The basis for valuing an animal should be actual sales price or fair
and conservative appraisal by competent judges when no actual sales
transaction has taken place. These values shall be subject to acceptance
by Company.
-
Mortality insurance is renewable only on evidence of reinsurability,
both as to physical condition and market value
-
Cancellation may only be effected by the insured, or by the company
on notice given in conformation with whatever existing laws govern for
the address of the insured as shown on policy. Short rate basis if
ordered by insured and pro rata basis if by the Company.
-
Policies may not be transferred from one insured to an-other unless
agreed to through endorsement by Company, nor may cover be switched from
one animal to another unless agreed to by Company.
-
Applicants subject to acceptance by Company.