Global Aquaculture Insurance Consortium
The facility can provide terms for aquaculturists ranging from those running small single site operations to large global producers raising a variety of different species in multiple locations. Both onshore and offshore operations may be considered for insurance.
The facility is underwritten by specialist aquaculture personnel at Alwen Hough Johnson Limited on behalf of certain Underwriters at Lloyd’s and A.M. Best AA- rated security.
The senior GAIC Underwriter is academically trained as a fisheries biologist and is qualified as a Chartered Insurance Practitioner and Associate of the Chartered Insurance Institute. He has over thirty years’ experience of handling aquaculture insurance and has visited a large number of aquaculture installations in many parts of the world, providing him with first-hand knowledge of a wide variety of rearing systems for many different aquatic species.
Both Assistant Underwriters are qualified to degree level and have numerous years’ experience handling aquaculture insurance.
Over twenty species of fish and shellfish located in thirty-five countries have been insured by GAIC since the facility was first created in 2009.
Stock values of up to USD 12,500,000 any one location can be accommodated subject to compliance with acceptable underwriting criteria.
||Aquaculture operations are each unique and GAIC provides a tailored, individual, approach to underwriting in order to design a bespoke product to suit the risk transfer requirements and budget of each client.