BAAC offers insurance for dairy cows, beef cattle
Cattle farmers can now insure their cows against accidents, natural disasters and several diseases, including the lumpy skin disease – which recently flared up in Thailand – thanks to the Bank for Agriculture and Agricultural Cooperatives (BAAC).
The Livestock Department reported last week that lumpy skin disease had affected some 75,000 cattle in 62 provinces and killed 9,000. The disease, which cannot be transmitted to humans, lowers the cow's milk yield, damages hide and can even kill in severe cases.
“The bank has partnered with insurance companies to make cattle insurance possible,” BAAC manager Thanarat Ngamwalirat said on Monday. “Southeast Insurance will insure dairy cows for a yearly premium of 810 baht per cow [including VAT and insurance tax]. The maximum coverage is 30,000 baht in case the cow dies from an accident, natural disaster or disease.”
The insurance deal covers dairy cows aged between 18 months and eight years that have a health certificate issued by a veterinarian.
“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 disease. Eligible cattle must be healthy, not exceeding 36 months old and already vaccinated against haemorrhagic septicemia and foot and mouth disease,” he said.
Only cattle farmers who have registered with the Livestock Department will be eligible for the insurance programmes.
“We hope this insurance will help mitigate losses for cattle farmers, especially with the ongoing outbreak,” Thanarat said.
Those interested can visit any BAAC branch or call (02) 555 0555.