At Markel our Livestock products are constantly evolving to keep pace with the changing nature of modern agriculture. Growing populations mean growing pressure on agriculture and livestock now supports the livelihoods and food security of almost a billion people*. And that number will only increase with the global population forecast to grow to over nine billion by 2050.
The globalisation of the feed supply chain, genetic stock and other technologies are transforming the livestock sector. The increasing industrialisation of farming methods helps feed populations but also poses ever-greater risks.
And as well as its importance in feeding people the Livestock sector is vital to the global economy, particularly in developing countries.
As agriculture becomes more market and less policy driven across the globe it is developing countries that are expected to increase their share of global production and capture most of the export growth.
Global production growth is slowing down but is still forecast to grow at 1.5% over the next decade. In terms of Meat production 80% of global growth is forecast to come from developing economies.
Meanwhile, food expenditures are accounting for between 20-50% of household budgets so food affordability remains a major concern to both producers and consumers.
Faced with these challenges Livestock farmers need to find innovative approaches to increase productivity whilst conserving natural resources and working in a sustainable and efficient manner.
Research by the Food and Agriculture Organisation shows that the farmers themselves make the majority of investment in the agriculture sector so it is vital that they are able to transfer some of the risks they face.
At Markel we recognise that our insureds needs have changed and our policies have to keep pace with the expanding and evolving agricultural sector. Whereas 15 years ago policies usually protected one species in one location it is now common for us to provide cover across multiple animal types and in several continents.
We recognise that no two farms are exactly the same with topography, management, animal types and farming methods differing. This is why we believe each farm deserves a bespoke policy to cover its own unique needs.
We are constantly adapting and tailoring our Livestock products to meet these needs. Livestock products are available for farms, zoos and other animal interests and in all cases products can be tailored to meet individual or unusual requirements.
- All risk of mortality
- Restricted perils
- Limited government slaughter
- Accidental and external injury
- Business interruption
* According to figures from the Food and Agriculture Organisation of the United Nations.