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Samsung Fire ntroduces Equine Mortality Insurance Program in New Mexico

Samsung Fire & Marine Insurance Co., Ltd. (U.S. Branch) submitted a filing in New Mexico to introduce a new Equine Mortality Insurance Program under the inland marine line.

The program is underwritten by Canopius Underwriting Agency Inc. on behalf of Samsung Fire & Marine Insurance Co., Ltd. (U.S. Branch).

Among the endorsements included in the filing are protections for stallion loss of income, permanent disability, first season infertility, emergency colic surgery fees, life-saving surgery fees, and movement restrictions tied to infectious disease outbreaks. The filing also contains exclusions for avian influenza, coronavirus-related losses, cyber risks, war and terrorism, and Hyperkalemic Periodic Paralysis (HYPP) in certain Quarter Horses.

The filing additionally introduces a Private Horse Owner’s Liability endorsement that provides bodily injury and property damage liability coverage for scheduled horses owned by the insured. The endorsement includes coverage for legal defense costs and medical payments while excluding activities such as racing, rodeo events, polo, livery stable operations, and professional equine activities.

Samsung also included optional terrorism coverage under the federal Terrorism Risk Insurance Act (TRIA), along with economic and trade sanctions language tied to U.S., U.K., EU, and United Nations sanctions frameworks.