GREEN HOUSE INSURANCE POLICY SUMMARY:

This document is in conjunction with the Swiss Re underlying policy on Greenhouse Insurance.

SECTION 1: STRUCTURE

A. Plastic Cladding Cover and B. Structures
This section provides insurance for Loss or Damage to Plastic Cover as a result of Fire,  Lightening, Impact damage, Water from reservoirs(sudden overflows), Excessive rainfall, Flooding.
Sum Insured: Replacement Value (RV) of the plastic cladding covering the Greenhouses in their entirety. Proposal Forms to be completed.
Deductible: 10% of the sum insured each and every loss
Indemnity: 250 micron 200 micron

  • First Year 100% of RV after deductible 100% of RV after deductible
  • Second Year 75% of RV after deductible 50% of RV after deductible
  • Third Year 50% of RV after deductible 15% of RV after deductible
  • Fourth Year nil nil.

SECTION 2: CROP ( to be taken together with Section 1)

The scope of cover includes Loss or Damage to the Crop as a result of Fire, Lightening, Impact damage, Water from reservoirs (sudden overflows), Flooding, Windstorm, Excessive rainfall.
Sum Insured: The amount(s) of the cost of production for all the crops produced in accordance with the cropping plan.
Indemnity:
a) In the event of 100% loss i.e. stocks and stems being damaged beyond recovery, indemnity shall be 100% of the sum insured.
b) In the event of damage to the stems where the main plant is not seriously affected i.e. sprouting is still possible, the Insured shall bear the first 25% of TSI each and every loss. Proposal Forms to be completed.



SECTION 3: TRANSIT

Cover in this section is for Loss or damage to crop (flowers) as a result of fire, overturning and collision of the refrigerated vehicle transporting them from the farm to the port of exit (airport). It is an Accident related cover leading to damage/Loss of crop. Cover is on declaration basis.
Sum Insured: Maximum value at risk any one load
Indemnity: 100% less salvage

SECTION 4: MACHINERY BREAKDOWN (COMPRESSORS AND PUMPS)

This is insurance for Loss or Damage to the irrigation equipment from the water supply point up to and including irrigation equipment in the greenhouse as a result of fire and allied perils or as a result of unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement.
This insurance covers the cost of repairing or replacing insured machinery following breakdown. It also includes electronic or mechanical machinery and equipment, such as boilers, pressure plants, refrigerators and air conditioners.
Sum Insured: A schedule of the equipment has to be submitted together with corresponding sums insured. Proposal Forms to be completed.
Deductible: 10% of each and every loss


SECTION 5: DETERIORATION OF STOCK

This covers deterioration of flowers or related delicate crops due to sudden and unforeseen loss or damage to machinery breakdown insured under section 4. It specifically provides cover for loss of or damage by deterioration or putrefaction to goods stored in any cold storage space specified.
Deterioration caused by:

  • Rise or fall in temperature due to breakdown or accidental damage to the refrigeration equipment or non-operation of the controlling devices of such equipment.
  • Accidental failure of the public electricity supply is included. 
  • Deterioration caused by the action of escaping refrigerant fumes is included.

Sum Insured: The maximum storage capacity of the cold rooms shall be used as a basis of determining the sum insured.
This has to be pre-agreed and calculated as follows: Maximum Carrying Capacity of Cold Room (boxes) x pre-agreed value per box. Proposal Forms to be completed.
Deductible: 10% of TSI each and every loss
Indemnity: 100% after deductible, less salvage

SECTION 6: IRRIGATION EQUIPMENT

 (To be taken only in conjunction with Section 1).
The cover under this section is for Loss or Damage to the irrigation equipment from the water supply point up to and including irrigation equipment in the greenhouse, whether the equipment is buried or above ground as a result of  Fire,  Lightening, Impact damage, Water from reservoirs(sudden overflows), Excessive rainfall, Flooding.
The cover excludes the water supply source and any associated software and computer equipment,
Sum Insured: To be constituted by the aggregate values of pumps, valves, sensors, piping, sprinklers, nozzles and water filtration systems provided in the schedule. Proposal Forms to be completed.
Deductible:10% of the sum insured each and every loss

SECTION 7:  OTHER ASSETS

The assets under this section must be exclusively related to greenhouse production. Cover to be taken in conjunction with Sections 1 through to 6 above.
The cover is for Loss or Damage to the assets listed in declaration form #6, as a result of perils outlined in the underlying policy, subject to exclusions, restrictions, definitions, terms and conditions outlined in the policy.
Sum Insured: A schedule of the assets has to be submitted together with corresponding sums insured. Declaration Form # 6 to be completed

Deductible: 10% each and every loss