Ireland’s equine industry is a cornerstone of its cultural heritage and economy, contributing over €550 million in foreign direct investment annually. With more than 10,000 horses in training and a vibrant community of owners, breeders, and trainers, the sector’s vitality is evident. However, the inherent risks associated with equine activities necessitate comprehensive insurance coverage to safeguard assets and livelihoods.
We understand that Ireland’s equine industry isn’t just a business, it’s a way of life. From breeders and bloodstock agents to riding schools and trainers, the equine community faces unique risks that demand tailored insurance solutions. That’s where we come in.
Equine Insurance
With over 20 years of experience in the Irish insurance market, we are a trusted name among professionals in the horse industry. Our team is made up of specialists who not only have deep expertise in insurance and risk management but who also live and breathe the equine world. Some of us are breeders, horse owners, or riders ourselves, giving us first-hand insight into the practical and financial risks that our clients face every day.
Unlike generalist insurers, we don’t take a one-size-fits-all approach. We’ve worked closely with professionals across the sector, from family-owned studs in Kildare to commercial riding schools in Cork. We identify the precise insurance coverage they need to operate securely and sustainably. We’ve highlight 5 equine insurance offerings that we believe those in the industry should consider.
Horse Mortality Insurance
Horse mortality insurance provides coverage in the unfortunate event of a horse’s death due to illness, injury, or accident. Given the significant investment in purchasing and maintaining horses, this insurance is crucial for owners.
In Ireland, the equine industry has faced challenges, with over 1,000 racehorse fatalities reported between 2012 and 2022. Specifically, 107 horse fatalities occurred at Irish racecourses in 2022 alone. These statistics underscore the importance of having mortality insurance to mitigate financial losses.
Policies typically cover all risks of mortality and may include additional options such as theft or straying. It’s essential for owners to assess their specific needs. Always consult with insurance providers to ensure adequate coverage.
Bloodstock Insurance
Bloodstock insurance is tailored for owners, breeders, and trainers of high-value horses. It provides protection against the loss of these valuable assets. This type of insurance is particularly relevant in Ireland, where the bloodstock industry is a significant contributor to the economy.
As specialist providers we offer policies covering all risks of mortality and theft, with options to customise coverage based on individual requirements. Similarly, we offer bespoke insurance solutions for the bloodstock sector, ensuring that clients receive tailored advice and support.
Given the substantial investments involved in breeding and training elite horses, securing comprehensive bloodstock insurance is a prudent measure to protect against unforeseen losses.
Horse Trainer Insurance
Horse trainers operate in a dynamic environment. Daily, they face various risks ranging from injuries to horses and staff to property damage. Trainer insurance offers coverage for these potential liabilities, ensuring that trainers can focus on their operations with peace of mind.
Trainers should always seek specialised policies, encompassing protection against injuries to valuable horses and liability concerns. Such comprehensive coverage is vital for safeguarding their businesses and reputations.
Riding Schools and Summer Camps Insurance
Riding schools and equestrian camps play a pivotal role in promoting equestrian activities, especially among youth. However, these establishments face unique challenges, including high insurance premiums and potential liabilities.
The Association of Irish Riding Establishments (AIRE) has highlighted concerns over escalating insurance costs. These costs have threatened the viability of many riding schools. Some establishments have reported insurance premium increases of nearly 90%. According to The Irish Field, this is leading to closures and reduced access to equestrian activities.
Insurance providers like ourselves, offer tailored coverage for riding schools. This includes public liability, property insurance, and care, custody, and control of horses. Such comprehensive policies are crucial for the sustainability of these institutions.
Horse Boarding and Stable Insurance
Horse boarding facilities and stables are integral to the equine industry, providing essential services to horse owners. These establishments must manage risks related to property damage, theft, and liability for horses under their care.
Insurance policies for boarding facilities typically cover public and employer’s liability, property insurance, and protection for equipment and tack. Ensuring adequate insurance for boarding and stable operations is vital to protect against potential financial setbacks and maintain trust with clients.
What next?
The Irish equine industry, while robust and economically significant, is fraught with risks that can have substantial financial repercussions. From horse mortality to liabilities faced by trainers and riding schools, comprehensive insurance coverage is indispensable.
Stakeholders must proactively assess their specific needs and engage with specialised insurance providers to secure appropriate policies. By doing so, they not only protect their investments but also contribute to the sustained growth and stability of Ireland’s esteemed equine sector.
In an industry where margins can be slim and stakes are high, Clear Insurance Ireland is committed to offering value, clarity, and peace of mind. Our equine clients trust us not only to safeguard their financial interests but also to understand the world they work in.
Whether you’re raising a future Derby winner, teaching children to ride, or managing a busy stable yard, Clear Insurance Ireland is here to help you ride with confidence, knowing that the risks are covered.
For more information, contact us today and get a quote tailored to your requirements.
