Saturday, October 1, 2022

Thailand’s Agriculture Bank Insures Cows against Accidents, Natural Disasters and Disease

BANGKOK (NNT) – Thailand’s Bank for Agriculture and Agricultural Cooperatives (BAAC) has partnered with insurance companies, to make cattle insurance possible, and cattle farmers can now insure their herds against accidents, natural disasters and several diseases, including lumpy skin disease.

BAAC manager Thanarat Ngamwalirat said Southeast Insurance will insure dairy cows, for an annual premium of 810 baht per animal, including VAT and insurance tax. The maximum coverage is 30,000 baht in case the cow dies in an accident, natural disaster or of a disease. The insurance deal covers dairy cows aged between 18 months and eight years, which have a health certificate issued by a veterinarian.

He said insurance for cattle raised for their meat will be handled by Dhipaya Insurance and Syn Mun Kong Insurance. The premium is set at 400 baht per animal, including VAT and insurance tax, while coverage will last for six months at a maximum of 30,000 baht in case of death by accident, natural disaster or of disease. Eligible cattle must be healthy, not exceeding 36 months old and already vaccinated against haemorrhagic septicemia and foot and mouth disease.

Mr. Thanarat said only cattle farmers who have registered with the Livestock Department will be eligible for the insurance programs, and the BAAC hopes the coverage will help mitigate losses suffered by cattle farmers, especially with the ongoing lumpy skin disease outbreak.

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