Australian farmers buying high-value bulls and rams can now arrange insurance straight after a sale, with Achmea Farm Insurance launching an online portal for stud stock cover.
The new platform is meant for buyers who want to secure cover quickly after buying animals either at auction or online. It comes as farmers continue to spend more on elite genetics, with Achmea Farm Insurance saying the average insured sum for bulls it covered last year was more than $50,000.
Achmea said the portal lets users get a quote and buy cover through a five-step process on a mobile device or laptop. Payment options include Visa, Mastercard and BPAY. The portal is open to all Australian stud stock buyers, including those who are not existing Achmea clients.
“Stud buyers told us they want stud stock insurance that’s convenient, simple, and available when and where they need it. That’s what we’ve delivered. Through our new portal, you can now buy stud stock insurance online and securely pay on your mobile or laptop,” chief financial officer Math Creemers said.
The insurer said the launch also reflects the risks tied to stud stock purchases. Common claims include illness, physical failure, infertility-related issues, and accidental injuries, including incidents during handling or transport. Because these animals can be worth a lot, a single incident can lead to a major financial loss.
Chief client officer Glenn Rosbrook said some risks cannot be fully avoided, especially during transport or extreme weather events.
“Transporting animals after a sale carries inherent risk, even with careful planning. Severe weather events - as seen with recent Queensland floods and Victorian bushfires - can also impact livestock with little to no warning. Our new Stud Stock Insurance Portal makes it easier for farmers to insure their valuable genetics, providing a convenient and flexible way to arrange cover when it is needed,” Rosbrook said.
Through the portal, buyers can insure stud bulls and rams valued at up to $100,000. Animals worth more than that will need tailored cover arranged directly with Achmea Farm Insurance.
The policies offer cover for three-, six- or 12 months, with three levels of protection. Depending on the option chosen, cover can range from mortality, including transit, to accidental loss of use, sickness and disease.
