Prospect Brokers Logo

Koi Fish Insurance

Prospect Brokers are pleased to confirm the launch of our new Koi Facility, providing cover for private koi collections for either individual or catastrophe cover in Switzerland and the United Kingdom.

The Contract of Koi Insurance is underwritten by certain underwriters at Lloyd’s of London. The Contract of Insurance provides mortality insurance (including illness) for your Koi as a direct result of certain Named Perils stated as “Operative” in your Contract of Insurance.

The usual duration of a Contract of Insurance is 12 months. The duration of your Contract is determined by the inception and expiry dates stated in your Contract of Insurance.

Only the Named Perils and Endorsements that are shown on your Contract of Insurance as “Operative” apply to your Contract of Insurance.

 

Features and Benefits

Choice of cover, for named perils events:

  • Individual cover for high valued Koi on an agreed value basis, which may or may not be subject to an aggregate deductible, depending on your risk appetite
  • Catastrophe, covering all your Koi subject to a Franchise deductible, allowing you to restart your pond following a named peril which results in significant mortality of Koi within an event period.
  • Transit endorsement – provides optional additional cover where you need to move your Koi via road vehicle and up to 48 hours acclimatisation to a new environment, for example where you purchase a new Koi.

 

Option 1 – Individual Cover – What is covered:

  • All diseases (without KHV) or accident
  • Injuries during spawning
  • Pollution
  • Malicious acts
  • Predators and birds of prey
  • Storms, flooding, landslides, lightning and earthquakes
  • Mechanical and electrical noise
  • Changes in water levels
  • Rupture or blockage in the water supply system
  • Theft and attempted theft by direct consequences

 

Option 2 – Catastrophe Cover – What is covered:

  • All diseases (without KHV) or accident
  • Injuries during spawning
  • Pollution
  • Malicious acts
  • Predators and birds of prey
  • Storms, flooding, landslides, lightning and earthquakes
  • Mechanical and electrical noise
  • Changes in water levels
  • Rupture or blockage in the water supply system
  • Theft and attempted theft by direct consequences

 

Limitations

  • Pays the replacement value of the Koi in the event of mortality occurring during the period of insurance, this means that we will replace the Koi with a similar, but not identical Koi for example the same type of Koi but a younger/smaller specimen.
  • You must maintain in complete working order and in full and effective operation, at all times, unless damaged by an external cause beyond your control, equipment to maintain the water quality of the pond that existed at the start date shown in the Contract of Insurance.
  • You may be responsible for a deductible.
  • Deductible clause – Franchise, this means you are responsible for any loss up to and including the franchise deductible stated in the Risk Details, once this has been exceeded we will pay your entire claim, less a percentage, as stated in the risk details, for each and every claim attributable to different events.
  • Deductible clause – Aggregate, this means you are responsible for deductible that may be based on a minimum number of head and/or a monetary amount. This deductible applies to the period of insurance, and we will pay the difference of the total claim less the deductible.

 

Excluding any claim

  • That occurs within the first 4 weeks for Illness or 72 hours for all other named perils. This does not apply where a subsequent period has been agreed, or where we have accepted a veterinary certificate or cover starts from the point of sale.
  • From any condition which existed prior to the start of the insurance, being a pre-existing condition.
  • Intentional slaughter, unless there are absolutely no treatment options available and the Koi would have died within a short period of time, which must be verified by the vet carrying out the humane destruction.
  • After the event period for the named peril which is directly responsible for the claim.

 

Capacity

  • 100% Lloyd’s capacity
  • A.M. Best upgraded its financial strength rating for the participating market to A (Excellent)

 

For more information please visit Koi Insurance or contact Maddison Field (mfield@prospectbrokers.com) 0207 977 7645