AquaHarvest Farms — Insurance & Business Continuity
AquaHarvest will maintain a comprehensive insurance programme to protect against key operational and financial risks. The insurance portfolio will be placed through a reputable agricultural insurance broker and underwritten by A-rated South African insurers:
Section 23 · Business Plan
Insurance & Business Continuity
AquaHarvest will maintain a comprehensive insurance programme to protect against key operational and financial risks. The insurance portfolio will be placed through a reputable agricultural insurance broker and underwritten by A-rated South African insurers:
23.1 Insurance Programme
AquaHarvest will maintain a comprehensive insurance programme to protect against key operational and financial risks. The insurance portfolio will be placed through a reputable agricultural insurance broker and underwritten by A-rated South African insurers:
| Insurance Type | Coverage | Estimated Premium (p.a.) | Insurer Type |
|---|---|---|---|
| Property All Risks | Infrastructure, equipment, buildings @ replacement value | R180,000 | Short-term insurer |
| Aquaculture Stock | Fish stock mortality from covered perils (disease, weather, theft) | R350,000 | Specialist agricultural |
| Business Interruption | 12-month indemnity period; gross profit basis | R120,000 | Short-term insurer |
| Motor Vehicle | Comprehensive cover for 3 refrigerated vehicles | R85,000 | Short-term insurer |
| Public Liability | R20 million limit per occurrence | R45,000 | Short-term insurer |
| Employer’s Liability | Statutory cover per COIDA | R65,000 | Compensation Fund |
| Key-Man Insurance | R5 million per founder (3 policies) | R75,000 | Life insurer |
| Directors & Officers | R10 million aggregate limit | R40,000 | Specialist insurer |
| Total Estimated Premium | R960,000 |
23.2 Business Continuity Plan
A formal Business Continuity Plan (BCP) will be developed and tested annually to ensure operational resilience against key disruption scenarios:
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Scenario 1 – Extended Power Failure (>24 hours): Automatic transfer to diesel generator; solar PV provides daytime load; critical aeration systems on UPS backup; staff notification and deployment protocol
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Scenario 2 – Water Supply Interruption: Switch to secondary borehole; activate RAS water recycling at maximum efficiency (98%+); reduce feed rates to lower oxygen demand; emergency water tanker contracts
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Scenario 3 – Disease Outbreak: Activate quarantine protocols; isolate affected ponds/modules; engage veterinary response team; implement emergency harvest of unaffected stock if necessary; notify DALRRD
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Scenario 4 – Key Person Incapacity: Key-man insurance activated; interim management protocols; board assumes governance responsibilities; recruitment of replacement within 90 days
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Scenario 5 – Natural Disaster (Flood/Storm): Elevated electrical infrastructure; emergency drainage protocols; insurance claim activation; temporary relocation of office functions
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