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Chile Launches Livestock Insurance Scheme

28 June 2012

CHILE - A new livestock insurance scheme for farmers has been introduced in Chile.

Minister of Agriculture, Luis Mayol and CEO of the Chubb Insurance Company of Chile, Claudio Rossi, officially launched the Livestock Insurance during a workshop "Challenges: Entrepreneurship and Innovation" held at the Instituto Adolfo Matthei of Osorno.

The Minister said that the insurance scheme was a breakthrough for country, allowing producers to manage the economic consequences of the risks they are exposed to in agricultural production.

The Secretary of State said that this insurance is complemented by the legislative amendments covering cattle rustling, thus fulfilling one of the 25 commitments made by President Sebastián Piñera to agriculture.

"For our ministry rural crime is important and that's why we wanted to move forward and support such initiatives, which will undoubtedly help to reduce the theft of animals affecting our farmers in the region of Los Lagos," the minister said.

The initiative covers the death of cattle due to an accident, illness, slaughter, death by natural events such as volcanic eruptions, ice, snow and liability damage to third parties.

The minister Luis Mayol also opened the second seminar Challenges: Entrepreneurship and Innovation.

He said that these meetings have become a real milestone for the Ministry of Agriculture to boost competitiveness.

TheCattleSite News Desk


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