Samsung Fire is introducing an equine mortality insurance program in Kentucky, marking a push into a niche but specialized segment of inland marine coverage. The filing, which has been acknowledged and is effective as of April 20, 2026, outlines coverage for horse mortality and named perils across a wide range of breeds and uses.

The program sets a minimum premium of $200 and applies base rates starting at 0.60%, increasing to 1.00% for risks involving public events. Mortality rates vary significantly by breed, age, and use, with higher-risk categories such as racing horses and older animals attracting materially higher premiums. For example, thoroughbred racehorses can see rates up to 5.50%, while older breeding horses may exceed 10% depending on age.

Beyond mortality coverage, the program offers a suite of add-ons, including major medical, surgical, and liability coverage. Major medical limits range from $5,000 to $15,000 with premiums tied to discipline and deductible levels, while liability coverage reaches up to $1 million per occurrence. Additional endorsements—such as loss of use, infertility, and overseas transport—introduce further premium adjustments.

Pricing is largely benchmarked against the competitive market rather than internal experience, as the insurer does not yet have program-specific loss data. The filing targets an underwriting profit of roughly 7.9% and an overall after-tax return of 11.2%, supported by a projected loss ratio of 56.9% and expense load exceeding 35%.

The move signals Samsung’s intent to compete in a fragmented equine insurance market, where underwriting discipline, specialized knowledge, and broker relationships play a central role.

Bottom Line: The move follows a wave of new entrants.