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Livestock mortality
insurance is written for the purpose of protecting the actual investment of
the livestock owner, not potential gain or profit.
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A mortality policy
cannot be construed in any way as a maintenance coverage; it does not
include veterinarian or similar expenses.
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Indemnity is
payable only as a result of death loss.
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Mortality coverage
does not indemnify an insured against loss of an animal's ability to perform
the functions for which it is kept.
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Death from natural
or accidental causes is included but mandatory slaughter by governmental
authority or decree, or for expediency is not included.
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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.
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Mortality insurance
is renewable only on evidence of reinsurability, both as to physical
condition and market value.
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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.
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Policies may not be
transferred from one insured to another unless agreed to through endorsement
by Company, nor may covered be switched from one animal to another unless
agreed to by Company.
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Application subject
to acceptance by Company.
