Silks Insurance – A New Breed of Thoroughbred Insurance

A NEW BREED OF
THOROUGHBRED INSURANCE

A NEW BREED OF
THOROUGHBRED INSURANCE

ABOUT US

Welcome to Silks Insurance.

We are specialist equine insurance brokers delivering service, expertise and a passion for all things racing and breeding within the thoroughbred horse racing and breeding industry.

Our promise at Silks is to provide you with professional, prompt and expert service to give our clients the best available protection. We are experts in the bloodstock insurance industry and experts in protecting your business from potential risks and liabilities.

The Australian thoroughbred industry has never been so exciting and potentially lucrative and with that, horse values have risen. Protecting your equine investments has never been so important and that’s why at Silks, we say “If it’s worth owning, it’s worth insuring”.

Silks Insurance understands our clients’ needs and can promptly prepare an insurance program to suit all aspects of your requirements. Together with our prompt claims settlements, market leading rates and policy features, we welcome you to contact Silks Insurance for what we believe will be a very competitive quotation with superior underwriting markets.

Protection for your passion is something we feel very strongly about here at Silks.

WE ARE YOUR PARTNER IN PROTECTION

Professional, qualified and experienced Brokers available 24 / 7

Access to leading bloodstock underwriting markets, all with A+ security ratings, worldwide.

Creating a common renewal date to manage your policies efficiently

Competitive rates and superior products

Prompt claims service

Premium Funding (pay by the month) options available

OUR SENIOR TEAM

Stuart Doughty
Director
m.0409 075 604
e.stuart@silksinsurance.com

Diploma Financial Services (Insurance Broking)
ANZIIF (Senior Associate) CIP

Stuart has worked in the thoroughbred industry for over 20 years and offers clients in-depth knowledge of insurance broking, bloodstock, stud farm management, racing and training. He has worked for leading trainers Gai Waterhouse and John O’Shea. Stuart’s experience with premier stud farms Darley and Kia Ora has given him the technical knowledge required to prepare and put forward major insurance programs including a specialisation in stallion first season (congenital infertility) insurance.

Stuart has a unique and well-rounded perspective of the thoroughbred industry which together with his passion for all things equine, brings great knowledge to Silks and our clients. Since becoming an insurance broker in 2015, Stuart has built strong client relationships among owners and breeders, stud farms, syndicators and trainers. During that time he has also built strong connections with leading UK underwriters and developed sought-after product knowledge.

“In my view this business is about people and horses, in that order. I really enjoy drawing on my years of experience in most corners of the thoroughbred industry to create insurance solutions for clients. Dealing with people would be one of my strong points and as a bloodstock insurance broker this allows me to develop enduring relationships with both clients and underwriters.”

Stuart is a proud family man, married to Keren and a father of four.

Linda Buckley
Operations Manager
m. 0411 307 435
e.linda@silksinsurance.com

Diploma Financial Services (Insurance Broking)
ANZIIF (Senior Associate) CIP

Linda’s reputation among clients is one of expertise, service and efficiency. Linda has been actively involved in the thoroughbred insurance industry for over 30 years. Initially Linda started her career with Wilburtins in 1989 until becoming part of the Austbrokers Network in 2000, subsequently merging to form HQ Insurance in 2013, of which Linda was the Operations Manager.

Linda brings to Silks her three decades of expertise and product knowledge in the thoroughbred insurance industry. This, coupled with her passion for providing the highest standard of service, holds Linda up as a highly sought-after insurance broking partner.

Committed to providing the utmost professional and prompt service, Linda has formed many years of strong relationships with both clients and Bloodstock Underwriters around the world to ultimately provide clients with the best possible insurance programs. Linda ensures all client’s have a fully structured policy to suit their individual requirements, specialising in large stud farms across Australia as well as servicing the needs of major horse trainers.

“I’m excited to start a new chapter at Silks, but most of all I am looking forward to continuing with what I do best, providing and helping clients find the right product at the most competitive price to protect their most valuable investment.”

Pippa Wright
Senior Account Manager
m. 0426 828 453
e. pippa@silksinsurance.com

Senior Account Manager

Pippa brings a wealth of experience; having worked in the bloodstock insurance market in both the UK and Australia for over 30 years. Pippa has long standing relationships within the Underwriting market; enabling her to provide expertise knowledge and service across a broad spectrum of requirements. She has a genuine interest in the industry and with her excellent negotiating skills always goes the extra mile to get the best value for her clients..

Pippa is from a country background and has grown up with horses competing to a high standard as a child. Prior to moving to London Pippa regularly rode out for several trainers, and also spent a few years breaking yearlings.

Pippa relocated to Australia from the UK with her family in 2011 and began working in the bloodstock insurance market here soon after. Pippa recently brought her unique depth of knowledge and experience to Silks, where she is looking forward to assisting her clients; ensuring that they always get the best customer experience possible.

Emily Mitchell
Account Executive
m. 0434 246 415
e. emily@silksinsurance.com

ASIC Tier 1 Accreditation (Insurance Broking)

Emily is our newest team member to join Silks having spent the last 2 years at Inglis working within both the digital platform and the bloodstock team where she could be found bid spotting alongside auctioneers on live sale days.

Prior to Inglis, Emily worked at HQ Insurance in her first bloodstock insurance role for a period of 2 years and has now decided to return to bloodstock insurance to follow her passion in an exciting industry that continues to grow from strength to strength.

With a focus on working closely with senior brokers, horse trainers and shareholders, Emily can be seen at all major horse sales and can assist with enquiries for all your bloodstock insurance requirements.

Fergus Deacon
Equine Claims Manager
m. 0448 625 490
e. fergus@silksinsurance.com

Diploma Financial Services (Insurance Broking)

Fergus has been involved in the Thoroughbred Industry from a young age, beginning his time with Les Bridge as a strapper and stable hand after completing his horse management studies at Marcus Oldham College. Following 20 plus years with the Wilburtins, Austbrokers and HQ Insurance groups in a dedicated role of claims management, Fergus brings to Silks over two decades of industry knowledge as well as a strong passion for horse racing and breeding. Having travelled to the UK to work for London based bloodstock brokers and Underwriters to further expand his experience in equine insurance, Fergus has many contacts to help further strengthen his broker and Underwriter relationships.

Fergus joins Silks as our Equine Claims Manager and is committed to ensuring your claim will receive prompt and professional attention.

Dr. Andrew Dart – A & C Veterinary Consultants – BVSc I PhD I DACVS
Registered Equine Surgical Specialist
m. 0412 460 041
e.andrew.dart@sydney.edu.au

BVSc I PhD I DACVS
Registered Equine Surgical Specialist

Professor Dart is our Underwriters Veterinary Consultant appointed to carefully review and provide assistance on all medical matters requiring specialist attention.

Andrew graduated as a veterinarian from the University of Queensland in 1984 and undertook an internship at the University of Sydney in 1985 before joining a large equine practice in Oakey for a further 3 years, thereafter undertaking equine surgery residency at the University of California for 3 years and remained on staff for a further 2 years. Andrew became an Equine Surgical Specialist in Australia, North America and Europe and returned to private practice in Australia before joining the University of Sydney in 1993. Andrew entered as a Senior Registrar and Head of the Equine Unit before becoming Hospital Director and Associate Professor. Now a Professor of Equine Veterinary Science, Andrew runs his own veterinary consultancy practice and provides exceptional and professional service to both Underwriters and clients of Silks Insurance, available 24/7.

Mitch Roach
Authorised Representative
m. 0447 061 388
e. mitch@silksinsurance.com

ASIC Tier 1 (Insurance Broking) Accreditation

Mitch joins the team at Silks on a consultancy basis following his previous employment at Holdfast Insurance Brokers and HQ Insurance where he managed his own private book of specialist bloodstock clients, now part of the Silks group.

Mitch was a graduate from the Irish National Stud after completing a Scholarship in 2008 and very quickly found that passion and excitement of the thoroughbred industry that has now helped him form valuable relationships with well known industry people. Mitch’s previous roles include working with Indian Creek Kentucky, Cheveley Park Stud UK as well as Cressfield, Matt Smith Racing, Kitchwin Hills and Sun Stud.

Based in South Australia, Mitch can assist with all your bloodstock insurance needs.

PRODUCTS

MORTALITY, THEFT AND TRANSIT INSURANCE

Mortality Insurance (No Excess applies)
All Risks Of Mortality as a result of the death of your horse through natural causes or as a result of an accident, sickness or disease including euthanasia as a hopeless prognosis. Mortality Insurance also includes theft and the ability to transport your horse within and between Australia and/or New Zealand.

Theft
Combined with mortality insurance, all of our bloodstock policies include a Theft and Unlawful removal clause including death directly resulting from theft or unlawful removal as well as malicious or wilful castration of your horse.

Transit Insurance
Our mortality policy covers transit anywhere within and between Australia and New Zealand. Should your horse be moved outside of these territorial limits, you must advise Silks Insurance in order that your policy can be extended to cover the relevant geography. An additional premium is usually payable outside of these geographical limits and will be determined by Underwriters at that time.

We can also offer you short term transit policies depending on your specific requirements and needs.

NEWBORN FOAL INSURANCE

If Prospective Foal Insurance has not been effected, the first available time to insure your valuable newborn foal is from 24 hours of age.

Underwriters require very specific veterinary guidelines to insure newborn foals and these include a newborn foal veterinary certificate of health to include completion of the IgG section on the vet certificate where a foal must pass a level of >800mg/dl before Underwriters can confirm full cover. This specific blood test will identify if a foal has a failure of passive transfer by measuring levels of IgG in the foal’s blood. An adequate and acceptable level of IgG is 800mg/dl or greater with any levels falling below such level to be referred to Underwriters prior to coverage being acceptable.

In addition and depending on the sum insured being requested, Underwriters may request a haemogram (additional blood work) to be performed to support the veterinary certificate and IgG test.

Rates on foals are determined by the age of the foal when cover is bound. As mentioned above, cover can be bound from as early as 24 hours of age however there are also options of incepting cover at 30, 60 and 90 days of age, the older the foal is at time of incepting cover, the lower the rate (provided the foal is in full health).

STALLION INSURANCE

Stallions/Racing Colts

Mortality Insurance policies can be extended to include the following additional covers for racing colts and stallions standing at stud.

Total and Permanent Disability (Racing colts and Stallions)

This extension covers stallions at stud becoming totally and permanently infertile or incapable of serving broodmares (as a result of an accident, sickness or disease). This policy extension can also be extended to cover racing colts that look to show ability on pedigree to eventually stand at stud as a stallion prospect. It is important to remember this policy extension is as a result of an accident, sickness and disease only and not as a congenital defect. (refer below for first season congenital infertility insurance).

Congenital Infertility Insurance (Stallions First Season at Stud)

Protecting a stallion’s first season at stud where it is unknown whether the stallion will be fertile is crucial. This extension covers the stallion being rendered sub-fertile as a result of a congenital defect or inability to breed. At Silks, our expertise in this field will guide you to the best policy wording we believe is suitable for first season stallions (both 30% and 60% wordings available). Because of the specialised nature of this cover, it is recommended you allow sufficient time for Underwriting negotiations to occur, including requirements for all veterinary paperwork and blood test results.

Loss Of Income (Stallions)

During a chosen breeding season, owners and shareholders of stallions can protect against a loss of income which can result from the stallion being unable to perform his duties at stud. A sum insured is nominated based upon the expected income for the chosen breeding season which includes a calculation of the number of broodmares booked to the stallion that season together with the stallion’s service fee and his fertility percentage. Depending on the policy wording, the stallion usually has a 10 day “out of action” excess period before a claim can be submitted.

PROSPECTIVE FOAL INSURANCE

Prospective Foal Insurance protects your mare’s unborn foal in utero and essentially protects your stallion fee paid in the event the mare slips, the foal is born dead or fails to survive up to a nominated age following birth.

The first available time to effect coverage for prospective foal insurance is from 42 days of the mare being confirmed “in foal” which must be supported by a positive pregnancy test certificate to also confirm there is no evidence of twins. There are varying periods of cover that can be bound for Prospective Foal Insurance however the most common period is through until 30 days after birth. Other options include coverage to 12 months after birth or coverage under a 12 month policy which is often attractive on new mare purchases where mares are already heavily in foal with shorter periods to foal down. Different periods obviously determine the more cost effective options and this can be discussed with our team upon your enquiry.

Premium costs for prospective foal insurance are based on the age of the broodmare together with her breeding history and how many days in foal the mare is at the time of quoting / inception. This form of insurance is also a very high risk for Underwriters as it is a specialised product with specialised veterinary reporting required and is therefore rated accordingly.

Prospective Foal Insurance is also available from fall of hammer and/or private purchase.

As an alternative, refer to our Newborn Foal Insurance tab where insurance is available to insure your newborn foal from as early as 24 hours of age should Prospective Foal Insurance not be a suitable cover for your requirements.

WEANLINGS AND YEARLING INSURANCE

Standard insurances are available for weanlings and yearlings with fall of hammer cover also available where horses are purchased from recognised public auctions.

Policy Extensions are available on Weanlings being purchased as pinhooks to be sold through yearling sales for Unsoundness Of Wind Insurance. This cover protects your weanling being sold at a yearling sale where the horse fails to pass the scoping examination either at the time of purchase (immediately examined following fall of hammer) or as an on farm pre-scope examination prior to sale.

The claim amount will be the sum insured or the fall of hammer knock down price, whichever is the lesser. No excess is applicable and in the event of a claim, it must be noted that Underwriters take full possession of the horse with a possible buy back offered by Underwriters to the owner, dependent upon individual circumstances.

GUARANTEED RENEWAL

In the event your horse incurs a life threatening injury, illness or disease on renewal, coverage can automatically be renewed at the expiring sum insured until the first policy anniversary date after the horse reaches the age of 14 or until such time as the injury, illness or disease is no longer deemed life threatening, whichever is the sooner. In addition, a major advantage to having the Guaranteed Renewal clause included is that once health documentation is received at inception of the policy and agreed by Underwriters, there is never again any requirement for a health document to be received for any further renewal year until your horse reaches 14 years of age.

LIFE SAVING SURGERY

This extension to the mortality policy is highly recommended and will protect a horse owner for their veterinary bills incurred where surgery is required to save the life of your horse. An additional premium and policy excess is payable, based on what level of coverage is taken. Standard options available are up to limits of either $10,000 or $15,000 per horse or for larger schedules, Underwriters can offer an aggregate limit depending on the size and total sum insured of the schedule.

AGREED VALUE

Meaning simply that, should a claim occur and be agreed by Underwriters, the full sum insured as stated on the coverage summary of your formal confirmation paperwork will be paid out.

CLAIMS

At Silks, we pride ourselves on prompt claims settlement and understand losing your horse can be a very traumatic and stressful time. Our aim is to make the claims submission process as quick and pain free as possible.

First, immediately report any incident directly to our office where we will talk you through the process of submitting a claim.

Second, ensure a Veterinarian performs a post mortem as soon as possible (this is a policy condition for submission of a claim to be made to Underwriters).

Third, a claim form will be forwarded to you for completion and return which will include a section for your bank account details for payment of the claim via EFT, upon settlement by Underwriters.

Remember, we are here to help and support you through this tragic time, please do not hesitate to reach out if you are unsure of anything.

PREMIUM FUNDING

At Silks, we have partnered with Attvest Finance who are premium funding experts and can offer you a premium funding option for payment of your insurance premiums.

Commonly, premiums are payable on a monthly basis by way of a direct debit from your nominated bank account however weekly, fortnightly, quarterly and even on a six month basis option is available depending on the structured period of your policy.

Our aim is to create great value premium funding solutions tailored for our clients’ specific needs and requirements.

Call Silks today to arrange a no obligation premium funding quotation through Attvest.

REQUEST A QUOTE

This quotation is provided to you based on information as provided to Silks Insurance. Any non-disclosure of material facts including claims could impact the Underwriter’s terms to be provided as part of this quotation. Should full disclosure of any material facts not be reported, this could void any contract being entered into.

Internet

Pay over the internet from a credit card at www.deft.com.au. Oracle Group Insurance Brokers accepts MasterCard, Visa, American Express, and Diners Club Cards*

Telephone

Pay by phone from your credit card.
Call 1300 78 11 45 to make a payment.

Oracle Group Insurance Brokers accepts MasterCard, Visa, American Express, and Diners Club Cards* The phone payment line is a 24-hour service. Calls are charged at the cost of a local call. (Mobiles extra).

BPAY

Contact your participating bank, credit union, or building society to make payment directly from your cheque or savings account. You will be required to enter the Biller Code and BPAY reference number as details on the form of your invoice.

HEALTH DOCUMENTS

Depending on the sum insured bound, all bloodstock Underwriters will require some form of health documentation to satisfy their requirements that the horse being insured is fit and healthy and free of any injury or illness at inception of the policy. Either a Veterinary Certificate of Health (standard EVA certificate provided by all Australian Vet’s) or an Owners one page Declaration of Health will suffice Underwriters requirements. Underwriters will assess the information provided on all health documents and in the event of any pre-existing conditions (examples being previous colic surgery, laminitis or a current injury), Underwriters may impose special conditions depending on the severity.

An exception to the above health document request are certain horses purchased from a recognised bloodstock auction which do not normally require any health document.

In relation to newborn foals, Underwriters require very specific veterinary guidelines to insure newborn foals and these include a newborn foal veterinary certificate of health to include completion of the IgG section on the vet certificate where a foal must pass a level of >800mg/dl before Underwriters can confirm full cover.

This specific blood test will identify if a foal has a failure of passive transfer by measuring levels of IgG in the foal’s blood. An adequate and acceptable level of IgG is 800mg/dl or greater with any levels falling below such level to be referred to Underwriters prior to coverage being acceptable.

In addition to the health documents required for newborn foals and depending on the sum insured being requested (usually for high valued foals), Underwriters may request a haemogram (additional blood work) to be performed to support the veterinary certificate and IgG test.

To be sure of your requirements regarding all health document requirements, we recommend you contact us at Silks and we will confirm all details required.

CLICK HERE TO DOWNLOAD SILKS DECLARATION OF HEALTH FORM

PRIVACY POLICY AND LICENCE DETAILS

CLICK HERE TO DOWNLOAD PRIVACY POLICY

CLICK HERE TO DOWNLOAD FSG (FINANCIAL SERVICES GUIDE)