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It has been suggested to me that insurance companies who are prepared to insure the lives of racehorses will only pay out on the death of a racehorse during a race, if the horse is instantly killed on during the race, or destroyed on the course without being removed to another site (eg equine hospital). The same person has said this is the reason so many horses are destroyed on the track.
Is anybody able to confirm whether this is true or not – I must say I was unaware of such a practice, but if true it sort of leaves owners with little choice but to urge a vet to destroy the animal on course.
Racehorse insurance policies are for mortality only (ie death). I’m not aware of any policy that would pay out in the case of serious injury (I imagine the premiums would be ridiculously high if there were).
As I understand it the policy isn’t just linked to death on the course though. I amend our insurance policies throughout the year depending on whether the horse is ‘at grass’ or in full training. The implication of that must be that if the horse dies whilst out of training you are also covered.
What someone has suggested is total nonsense.
Shergar was a case where the owners asked for full insurance which includes mortality from any cause, but the underwriters did not insure for theft. Shergar was stolen but no body found and the Court case against the underwriters was dismissed. if a body was found then they would have been paid out.
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