Aquaculture insurance Your warranty to bounce in case of claims - PowerPoint PPT Presentation

YOUR LOGO Aquaculture insurance Your warranty to bounce in case of claims Cédric Audor – GUIAN S.A – www.insuranceaquaculture.com

Plan of this presentation  Who are we ?  Insurance as a guarantee of the continuation of your business?  Concrete exemple of loss : what happens with or without insurance ?  Be carreful about your policy YOUR LOGO Page  2

Who are we ?  GUIAN S.A is a marine insurance broker highly specialized in fishing vessels and transport insurance.  Today 49 persons are working in our Group.  For 4 years, we are working on fish crops insurance with only one issue : to give to our clients the best coverage they need and the most appropriated to their business by creating tailor made coverage. We are working worldwide using our own aquaculture policy : AquaSecure YOUR LOGO Page  3

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Insurance as a guarantee to the continuation of your business? YOUR LOGO Page  5

Crops aquaculture insurance – the coverage 1 Storm / Flood / Lightning / Tsunami / Climatic events 2 Disease / Parasitic infections 3 Predation / collision 4 Algal blooms / Desoxygenation / High temperatures 5 Frozen / Ice damage 6 Malicious acts / Theft / Vandalism / Error of the team 7 Mechanical / Electrical breakdown 8 Alteration of physicochemical parameters of the water etc... YOUR LOGO Page  6

What happens in case of claim Without insurance are you able to restart your business ? Without insurance are you able to convince a bank to help you in refinancing your stock ? YOUR LOGO Page  7

Why using a livestock aquaculture insurance ?  Insurance absorbs all negative pics of the financial accounts, and allows you to keep your farm Results  The insurance allows you to secure your corporate social The staff responsibility is maintained  The result of an important claim can be the end of the activity. The activity is perpetuated YOUR LOGO Page  8

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Exemple of a loss YOUR LOGO Page  10

Evaluation of the risks Geographic situation Experience of the staff of the farm Mooring systems, Claim history monitoring system for water quality & stock control management YOUR LOGO Page  11

How it works : use a real example A seabream and seabass offshore farm  Classic insurance policy on the AquaSecure wording Stock insurance policy  The farm is covered for all the case of claims.  The average premium is around 3,5 % of the value at risk on the farm  The deductible is a classic one fixed at 15 % of the value at risk YOUR LOGO Page  12

The Claim Event - STORM  grid system / group of cages seriously hurt YOUR LOGO Page  13

The Claim YOUR LOGO Page  14

The Claim  Value lost on the claim : 830 000 €  Value at risk at the time of loss : 3 200 000 €  Deductible at the time of loss : 420 000 €  Compensation 410 000 € with an aquaculture insurance  With no insurance and 26 % of value lost what happen ? YOUR LOGO Page  15

What happens in case of claim Without insurance are you able to restart your business ? Without insurance are you able to convince a bank to help you in refinancing your stock ? YOUR LOGO Page  16

Be carreful about your policy ! YOUR LOGO Page  17

Be carreful Choose only a specific aquaculture policy  And if possible work with a broker specialised in this type of risk for having a tailor made coverage adapted to your farm Choose a policy on strictly agreed value YOUR LOGO Page  18

YOUR LOGO Thanks for your attention ! Cédric Audor – GUIAN S.A – www.insuranceaquaculture.com e-mail : caudor@guian.eu