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Bullish market for breeders insuring Charolais champs

Insurance brokers at the inaugural Stirling Pedigree Cattle Sales saw an increased demand for ‘on the spot’ insurance cover compared with previous years – not least from owners of the event’s three top-priced bulls, all champion Charolais.

Despite fewer cattle entries than in 2008, representatives of agricultural brokers BNIB Fraser Tennant from Perth and BNIB Denny from Stirling saw a substantial increase in gross written premium written over the three days, a reflection of increased prices in pedigree cattle across the market generally.

According to Robert Sinclair, agricultural specialist at BNIB Fraser Tennant, this year’s insurance figures show that breeders are becoming more aware of the positive impact that reputable insurance has on the final selling price – especially in the case of quality terminal sires – while purchasers are proving more astute in terms of the range of protection they require.

Senior Champion Balmyle Dickler, for example, which sold for 26,000gns by Bill Bruce of Balmyle, Meigle, was fully insured on the day for the breeding Warranty and All Risks of Mortality including failure to pass routine herd tests for tuberculosis and brucellosis and Permanent Incapacity/Economic Slaughter. Immediate insurance was also arranged for overall and immediate champion, Blackford Dynamite – sold by Anne McHardy from Croy, Inverness to the Bothwells of County Fermanagh – and newcomer Ronnie Mackay’s Junior Champion, Clyth Diplomat, both reaching 16,000gns each.

‘There are no short cuts when it comes to insuring pedigree champions and the first sale at Stirling proved no exception,' said Robert Sinclair. ‘As soon as we knew the final sale price we were able to get the paperwork signed and actioned immediately. It’s a good old-fashioned face to face service – no other way will do.’

Auctioneer David Leggat, Chairman of United Auctions, added: ‘Having an experienced insurance company present for the duration of the sale was a huge asset. Not only did it help to facilitate sale proceedings but it added to the range of services we are able to offer under the one roof. BNIB Fraser Tennant will be with us at our next major sale in February. ’

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