Insurance Update: The cost and claims of climate change
Climate change presents a wholly different and more persistent challenge for the insurance sector and its customers than the recent pandemic, supply chain issues and inflation.
Five dairy farmers won on-farm consultations with QCONZ (Quality Consultants New Zealand), which included analysis of cow flow and milking processes. Ten other dairy farmers won COWaPATCHe sticker dispenser kits to help track, manage and record critical dairy herd data.
The competition was part of FMG’s risk awareness campaign to prevent milk contamination. FMG’s statistics show clients annually make at least 900 milk contamination claims totaling $2.2m. Nearly half arise from milk contamination by antibiotics and 30% from plant failure.
FMG’s general manager of advice and insurance, Conrad Wilkshire, says milk contamination is a prominent issue in the dairy industry
“When things go wrong for our clients, we’re here to help them, but contaminated milk can still cost farmers a lot in lost productivity, penalties and lost export income.
“We like to take a proactive approach and help to manage clients’ risks. This competition was a great way to highlight the risks involved in milk production and reward our clients with prizes that continue to help ensure the highest milk quality with minimal interruption to their dairy operations.”
