H&H Insurance Brokers shines spotlight on risks faced by alpaca owners

Insurancebusinessmag | July 01, 2019

H&H Insurance Brokers shines spotlight on risks faced by alpaca owners
H&H Insurance Brokers (HHIB) is making sure alpaca and llama owners are not overlooking the risks they could be facing given changes to animal welfare regulations. Late last year a new licensing regime, which spans camelids that interact with the public, was introduced. While HHIB business development manager Jacinta Nastali acknowledges it as a matter of licencing, she stressed that it is partly an insurance issue. “If you open your farm to the public and have staff and or volunteers working for you, then you are at risk,” asserted Nastali, who draw attention to the importance of being aware of the legislative changes to ensure compliance. The HHIB executive added: “The costs of the licence can vary enormously – however, whatever the cost, it is an essential requirement if your animals meet the general public. Your licence will be provided by your local council. In many instances, it will require you to have the correct insurance in place.” A suitable smallholders public liability insurance, for instance, meets the requirements of a licence. HHIB’s Armitage in-Livestock policy, in particular, covers all general smallholding activities as well as providing coverage for keeping animals and while exhibiting at shows or events in the UK. “Now that many owners are diversifying, the insurance can also cover activities such as the public walking with alpacas, school visits, or taking alpacas to care homes, and weddings,” said Nastali. “This protects your animals and anyone who meets them. “Several owners consider public liability insurance simply because they are concerned about an animal escaping from the property and causing injury or damage. However, if someone is on your property and gets injured or becomes ill because of your negligence, you are the one who is liable.” In Nastali’s view, these days no-one can afford to be without adequate protection.

Spotlight

In the face of ongoing uncertainty surrounding the U.S. economic recovery, including the unpredictability of budgetary decisions in Congress, continued high unemployment and weak consumer demand, the Eurozone crisis, and ongoing tumult in the Middle East, the domestic and international economic climate is still very risky. This change and unpredictability require more vigilance from our business leaders. A trade credit insurance policy, if used properly, provides a valuable extension to a company’s credit management practices – a second pair of objective eyes when approving buyers, as well as an early warning system should things begin to decline so that exposure can be effectively managed.

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