524 



Insurance of Live Stock. [oct., 



is primitive, but has the advantage that the members are able 

 . to control each other. The narrow limits in which these 

 associations work may, in cases of grave local epidemics, lead 

 to serious consequences. 



There are a number of companies for the insurance of stock, 

 of which the oldest was founded in 1859. This is called the 

 " Kreaturforsikrings Forening " (Domestic Animal Insurance 

 Association) of Denmark, and gives compensation for losses 

 incurred by the death of horses, cattle, sheep, swine or goats 

 from sickness (except cattle plague). Compensation is also 

 given for severe injuries. The amount insured in this company 

 in 1902 was £194,000, and its reserve fund amounted to £3,300. 

 It pays the full value of the animal, but a maximum value is 

 imposed which in the case of cattle is fixed at £16 12s. The 

 premium for cattle is 3 per cent, excluding, or 5 per cent, 

 including, losses from tuberculosis. There are three other 

 similar associations. 



There is also an association known as " Kustos," which 

 undertakes the insurance of the whole stock on a farm. The 

 whole live stock is insured, and if at least two animals die 

 from disease or accident, compensation is paid for the least 

 valuable of the first two at the rate of 40 per cent, of the 

 value, and subsequent ones at the rate of 80 per cent. If 

 only one animal dies only 40 per cent, is paid. All owners 

 who have insured their stock in this way may also insure 

 horses and cattle separately for other risks. This company 

 is chiefly patronised by estate owners and large farmers, and 

 the amount it had insured in 1906 was £1,346,000, together 

 with specia] insurances to the amount of £526,000. The 

 expenses of administration in this company are very low, 

 being only at the rate of about one penny for every £5 insured. 

 The number of members was 1,691. 



In 1901 another company known as " Pan " was established 

 at Copenhagen under the patronage of a number of leading 

 farmers, Members of Parliament and other prominent persons. 

 This company insures all classes of animals and also against 

 several special risks. It also undertakes the re-insurance of 

 the small local mutual associations mentioned above. Three- 

 quarters of the profit is allotted as a bonus to the insured. 

 The amount insured in 1904 was £44,000. 



