Old Colony Insurance, a leading farm and equine Insurance Agency for over 50 years, welcomes John David Christman to its organization.

With over 15 years' experience, Christman continues momentum as one of the top insurance producers in the equine industry. Christman was born and raised in Lexington, KY, and is a graduate of Transylvania University. He grew up working summers and sales for Taylor Made before beginning his career in the bloodstock insurance business with Equus/Standardbred Station, Inc. in 2008.

“It is very exciting to begin this chapter of my career with Old Colony Insurance,” said Christman. “I am eternally grateful to the Jones family and Equus for 15 fantastic years together. I aim to continue the legacies and standards of Old Colony's late founder Mr. Bill Carl and Nick Strong in my new role. My goal has always been, and will remain, to be the most responsive, attentive and accessible insurance agent in the business.”

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Kiger began his career in the equine insurance business in 1962 when he was invited to join the Kentucky Insurance Agency by Leslie Combs II. He was associated with Fasig-Tipton for many years and started his own agency with Jerry Parks, the Kiger-Parks Insurance Group in 1984. He continued with Kiger Insurance until his death.

Over the years, he insured Kentucky Derby, Oaks and Breeders Cup winners and two Triple Crown winners – Seattle Slew and Affirmed. His clientele included many well-known actors and sports figures.

Born to Sylvester Kiger and Edna Mae Nikirk Kiger, Syl Kiger was a graduate of Henry Clay High School in Lexington. He was inducted into the Henry Clay Hall of Fame in 2018. Following graduation, he worked at the Lexington Public Library and moonlighted at Bluegrass Billiards until 1962. He volunteered for the U.S. Army and was stationed at Thule Air Base in Thule, Greenland, as a Computer/Radar Specialist.

Kiger was political coordinator for Kentucky House Speaker William G. Kenton, who introduced legislation establishing the Kentucky Horse Park. He also served on the Lexington Fayette County Human Rights Commission, the Lexington Public Library Advisory Board, as President of the Underwriters at Lloyd's Agents Association and the Central Kentucky YMCA Men's Club. He was a featured speaker in the “Davis Bottom History Preservation Project” sponsored by the Kentucky Heritage Council.

As important as any of his official recognitions however, Syl is known for his many acts of kindness toward the less fortunate in Lexington, especially those in the inner city.

He is survived by his wife, Cathy Lowe, children Kige Hayes Kiger and Cassie Kiger (Jackson), and a special niece, Olivia Lowe.

An event for family and friends to gather in the spring to honor his life is planned. In lieu of flowers please consider a contribution to the Central Kentucky YMCA or a charity of your choice.

The post Equine Insurer Sylvester Kiger Jr. Passes; Insured Triple Crown Winners Seattle Slew, Affirmed appeared first on Horse Racing News | Paulick Report.

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Email us at info@paulickreport. com if you have a question for an insurer.

QUESTION: What role does my insurance plan play when applying for an equine loan?

BRYCE BURTON: Business owners within the Thoroughbred industry, similarly to other business ventures, have the option to apply for outside funding in order to assist with the acquisition of high valued purchases. Just as a new business owner may secure a loan for the purchase of a new home, piece of land, of horse farm, the same option is available for the purchase of livestock, including Thoroughbreds.

When purchasing Thoroughbreds, the simple rule of thumb is that financing is available on breeding stock, but not racehorses. Mares, foals, and yearlings can all be used as collateral for an equine loan. As you'd expect, the lender requires that the applicant carry a certain amount of Full Mortality Insurance coverage throughout the life of the loan, so that in the event that something catastrophic happens to the equine asset, which in this case also serves as the collateral, the lender will be paid back in full.

The general rule of thumb when securing an equine loan is that the lender will provide a note up to the amount of 50 percent of the purchase price, making the borrower responsible for paying for the other 50 percent of the purchase.

As an example, if a new owner purchases a mare in the amount of $100,000 at public auction, they have the option to acquire outside funds through a lender up to the amount of $50,000 and would be responsible for the other $50,000. The lender would then require that the borrower place mortality coverage for the amount of the loan, which in this case is $50,000. It should be noted that the insured has the option to insure 100 percent of the purchase if desired. However, in most instances, the bank will only require the insured shows coverage for the amount of the loan. The lender is listed as a Loss Payee on the policy so that in the event of a claim, both parties would be compensated for their respective interests.

Bryce Burton is a property and liability specialist for Muirfield Insurance. He is from Frankfort, Ky., where he grew up an avid race fan. His Thoroughbred racing fandom combined with a collegiate internship in the insurance industry, culminated in a start in the equine insurance field. Bryce has been with Muirfield Insurance since 2014, following his graduation from Transylvania University in Lexington.

The post Ask Your Insurer Presented By Muirfield Insurance: Equine Loans And Your Insurance Plan appeared first on Horse Racing News | Paulick Report.

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Email us at info@paulickreport. com if you have a question for an insurer.

QUESTION: In the event that my insured horse is being transported to the clinic for a procedure, what are my responsibilities as a policyholder? Are any veterinary expenses covered under my full mortality, or all-risk mortality policy?

BRYCE BURTON: The conditions of a full mortality insurance policy require that the underwriters are notified immediately should an insured animal become ill or injured. The underwriters must also be notified prior to any surgery being performed, unless the surgery is an emergency life-saving procedure. Notifying your agent and/or underwriter is mandatory at the earliest possible time.

The most efficient way to notify the underwriter is to contact your equine insurance agent so they can pass along the necessary information.

Most full mortality policies contain a free Emergency Colic Surgery Endorsement up to a $5,000 limit per occurrence on horses 91 days of age through 18 years, with no prior history of colic issues. Beyond the Emergency Colic Surgery Endorsement, either a Major Medical Endorsement, Surgical Endorsement, or Racehorse Surgical Endorsement would have to be in place in order to qualify for coverage of veterinary expenses. Please see the previous article regarding Major Medical coverage here.

QUESTION: What do I need to do in the event that my insured horse is in a life-threatening situation?

BRYCE BURTON: In the event that an insured horse is facing a life-threatening situation, the policyholder should call their agent immediately. It's always a good idea for an insured to have the agent's after-hours number saved so that it's accessible at all times.

It's also beneficial to have the horse's name, dam's name, age, attending veterinarian's contact, and care- taker's contact on hand for the agent. The agent will then reach out to an emergency adjuster, who will take over from there. The adjuster will need to speak directly to the vet and/or caretaker of the horse regarding the situation in order to ensure that everyone is on the same page with respect to the horse's health moving forward.

Bryce Burton is a property and liability specialist for Muirfield Insurance. He is from Frankfort, Ky., where
he grew up an avid race fan. His Thoroughbred racing fandom combined with a collegiate internship in the insurance industry, culminated in a start in the equine insurance field. Bryce has been with Muirfield Insurance since 2014, following his graduation from Transylvania University in Lexington.

The post Ask Your Insurer Presented By Muirfield Insurance: What To Do When Shipping Your Horse To The Veterinary Clinic appeared first on Horse Racing News | Paulick Report.

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Email us at info@paulickreport. com if you have a question for an insurer.

QUESTION: With the Keeneland September Sale and the Fasig-Tipton Selected Yearlings Showcase in our midst, is there anything that a buyer should be aware of with respect to getting their purchases insured? Are there any other coverages that they should ask about?

BRYCE BURTON: With the number of horses that will be changing hands over the next few weeks, we thought it would be beneficial to discuss what buyers should be aware of from an insurance perspective when making their purchases. The critical matter to note is that risk of loss passes from the seller to the buyer as soon as the hammer falls on a new purchase. It's important to do your due diligence prior to bidding in order to ensure that coverage would be in place should something happen to the horse, or the horse were to cause bodily harm or property damage, while on the sales grounds.

If the buyer has a current Full Mortality or All-Risk Mortality policy in place, they should speak to their agent in order to confirm that “Fall of the Hammer” coverage is in place. Most policies contain an endorsement that states that as soon as the hammer falls on a new purchase, the policyholder automatically has Full Mortality or All-Risk coverage in place. This is done to put the insured's mind at ease during the tumultuous sales, as they don't have to worry about notifying the insurance company until the sale ends. Some policies may only allow automatic additions up to a certain sum insured value, so it's a good idea to speak to your agent in order to confirm this information.

Lastly, we recommend looking into Race Horse Owners Liability Insurance coverage, which protects horse owners from the unique liability exposures which come as a result of the ownership of their horses. This includes bodily injury or property damage, which can and may be more likely to occur on the sales grounds. These specific equine-related risks are normally excluded under any run of the mill homeowners or umbrella insurance coverages that the owner may already have in place. The buyer can notify their agent prior to the sale so that liability coverage is bound the second the hammer falls.

Bryce Burton is a property and liability specialist for Muirfield Insurance. He is from Frankfort, Ky., where
he grew up an avid race fan. His Thoroughbred racing fandom combined with a collegiate internship in the insurance industry, culminated in a start in the equine insurance field. Bryce has been with Muirfield Insurance since 2014, following his graduation from Transylvania University in Lexington.

The post Ask Your Insurer Presented By Muirfield Insurance: September Sales Checklist appeared first on Horse Racing News | Paulick Report.

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