The horse industry, as a whole, spends millions of dollars each year on mortality insurance. Mortality insurance is often compared to life insurance, although there are several important differences. Generally, mortality insurance is designed to pay a sum of money in the event that an insured horse dies or is stolen. Of the large numbers of people who buy mortality insurance, few truly understand that the policies and the companies who offer them are not alike. This two-part series explores important and little known aspects of equine mortality insurance. Part One generally discusses mortality insurance and addresses some important features that can differ among mortality insurance policies. Part Two discusses duties found in many policies of mortality insurance that, if not followed by policyholders, could result in a loss of coverage. (more…)
Stallion Syndication: A Worthwhile Structure for the High Dollar Horse!
Are you interested in owning that high-dollar breeding stallion but just can’t quite justify the initial investment? Although you own a few nice mares, do you wonder how you will secure the remaining thirty to forty additional breedings necessary to recoup costs in an average season? Do you know other business associates who have expressed an interest in the stallion but are unable to actually purchase the stud? If so, you might be a good candidate to utilize a syndication agreement. (more…)
Disclosure Requirements in a Horse Sale
Horses sell every day, but when it comes right down to it, most people involved in a horse sale are not exactly sure what facts the seller must disclose. The law creates a fine line between a seller’s duty to disclose and a seller’s right to remain silent. The general rules are summarized as follows: (more…)