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The amount paid by the aquaculture business to the insurance company for coverage. The premium is influenced by the risk level, value of insured assets, and chosen coverage options.

This insurance coverage pays the cost of replacing damaged or lost property without deducting for depreciation. For aquaculture, it's important for fully restoring operations after a loss.

Insurance covering the death of fish or shellfish due to insured perils such as diseases, oxygen depletion, or extreme weather. In aquaculture, this helps protect against the loss of livestock, which is a primary asset.

This insurance protects against legal liabilities to third parties for bodily injury or property damage caused by aquaculture operations. It's significant to manage risks associated with accidents or escapes that can harm the environment or other properties.

This policy offers broad coverage against all risks except those specifically excluded in the policy. In aquaculture, it provides extensive protection and is preferable for comprehensive risk management.

The period during which the insurance company will compensate the insured for the loss of income after a loss event. For aquaculture, this ensures continuity of business operations after a significant loss.

Protects against losses of broodstock, eggs, larvae, or juveniles in hatcheries due to insured perils. It's significant in aquaculture as the hatchery stage is crucial for the establishment of healthy stock.

A valuation method that calculates the replacement cost of an insured item minus depreciation. In aquaculture, it affects compensation amounts, especially for equipment and facilities.

An insurance policy that covers only the risks explicitly listed in the policy. For aquaculture, this could include perils like storms, predation, or theft, providing a tailored risk management strategy.

Provides coverage for claims arising from pollution caused by aquaculture activities. This includes unintended release of contaminants or non-native species. Pollution liability is vital as aquaculture operations can impact local ecosystems.

Coverage for the accidental electrical or mechanical breakdown of aquaculture equipment, like pumps or feeders. Essential for aquaculture where the reliance on technology is high for maintaining livestock.

Covers the aquaculture producer against claims of bodily injury or property damage caused by products produced by the aquaculture business. It mitigates financial risk associated with selling potentially harmful products.

Provides compensation for lost income when a business is halted due to a covered loss, such as disease outbreak or natural disaster. In aquaculture, this helps maintain financial stability during recovery periods.

The amount that the insured must pay out-of-pocket before the insurance company will cover the remaining costs of the claim. In aquaculture, a higher deductible can lower premiums but increases out-of-pocket risk.