Shrimp Cover

shrimp farm

Shrimp Insurance, subject to the policy terms, conditions and exclusions will pay a loss as a result of the following perils which happen outside the control of the Insured:-

  • Pollution.
  • Proven Theft.
  • Predation or physical damage caused by predators.
  • Storm, lightning, flooding, tidal wave, collision, sudden and unforeseen structural failure of equipment.
  • Drought, fire, lightning, explosion, earthquake.
  • Deoxygenation due to competing biological activity or to changes in the physical or chemical condition of the water, including upwelling and high water temperature.
  • Any other change in concentration of the normal chemical constituents of the water, including change in pH or salinity.
  • Mechanical breakdown or accidental damage to machinery and other installations.
  • Any other change in concentration of the normal chemical constituents of the water, including change in pH or salinity.
  • Disease.
  • Mechanical breakdown or accidental damage to machinery and other installations.
  • Electrical breakdown, failure or interruption of the electricity supply, electrocution.

Plus Disease – Before any insurance for Disease can be considered a survey will need to be completed by a recognized Shrimp surveyor on the bio security and the Disease management of the farm. Who pays the cost of the survey will be decided when the survey is organised.

To be considered for insurance you need to have all and or most of the following points of ‘Best Practices’ in place:-


Best Practices

  • Single and or double layers of nets surrounding the pond(s) to keep crabs and other Crustaceans from entering the pond.
  • Over the ponds there should be several lines of plastic to keep the Birds out of the ponds.
  • The ponds should be lined where possible
  • The spread of Disease by the workers is a factor and this is reduced with disinfection foot baths located at various entrances to the farm.
  • The farm should be located in an area more than a metre above the highest tidal mark experienced in the area.
  • The height of all pond banks should be in excess of the maximum flood levels experienced in the area.
  • Where possible One entrance to farm - one exit from farm.
  • All vehicles entering the farm must drive through a disinfection bath / trough.
  • Keep number the of visitors to a minimum
  • Farm should operate a closed water system with minimal water exchange.
  • Some Ponds should be set aside as settling ponds for incoming water. Any incoming water to these ponds should first go through a filtering material.
  • The water in the ‘settling ponds’should be allowed to settle for three to four days. The water in the settling ponds is transferred to the Reservoir ponds first having gone through a fine mesh filtering material.
  • The water in the Reservoir should be treated with chemical disinfectants and allowed to settle for three to four days.
  • The water in the Reservoir ponds once settled can be pumped into the grow out ponds through a fine mesh filtering material.
  • Water exchange of the grow out pond within the grow out cycle should not exceed 5%
  • Stocking Density should not exceed 25 Pl / m2
  • After each pond is harvested the pond must be kept empty for a minimum of 14 days to allow the pond to dry and be chemically disinfected
  • Each pond or an allocated number of ponds should have their own farmer who alone controls and manages the ponds. No other person should be allowed to manage the ponds within the grow out cycle. There should be no interaction between the farmers on the farm within the grow out cycle.
  • Twice every day check the water for Deoxygenation levels and that the pH is within the normal parameters. Twice a week analyse water and Shrimp for chemical and bacterial levels.

Valuation

The maximum sum insured should be the maximum value any one cycle. The valuation of the Cycle would be the production cost per pond per 30 days. For example:

  • First 30 days of cycle ( 30 days) @ USD 2,500 per pond (for example only)
  • Second 30 days of cycle ( 60 days ) @ USD 4,000 per pond (for example only)
  • Third 30 days of cycle ( 90 days ) @ USD 7,000 per pond (for example only)

In tailoring your insurance policy the range of perils you choose can be a comprehensive 'All named perils' insurance or one or more specific perils dependant on your needs.