A first-of-its-kind insurance policy for porcine reproductive and respiratory syndrome (PRRS) and porcine epidemic diarrhea virus (PEDV) will pay farmers for production losses resulting from PRRS or PEDV. The new insurance was announced recently by James Allen Insurance, a family-owned farm and ranch insurance company.
“Pork producers have shown concern for both PRRS and PED as these diseases can severely lower production and have severe financial effects on their operations,” said Tim Craig, CEO of James Allen Insurance. “Hearing this need, we have created insurance coverage to transfer the financial risk of a break.”
Veterinarians and professors at top universities say it is not a matter of if an outbreak will occur but when it will happen. As a highly contagious viral infection, PRRS and PEDV are hard to treat and easily spread. They are considered two of the most economically-damaging diseases for the pork industry. A recent PEDV outbreak in Oklahoma will have more than a $15 million impact on pork producers in the state who were uninsured, Craig said.
“The product our company offers would allow for all that risk to be transferred from the producer to our insurance policy, creating financial stability and peace of mind,” he said.
Capacity is limited and coverage will be placed on a first come, first served basis with expected exhaustion. For more information, visit the firm’s PRRS and PEDV information page at http://jamesalleninsurance.com/prrs-and-ped-viruses-coverage/ or call 317-324-6991.