A new report says 4.6 million animals owned by 34,000 herders have been insured in Mongolia. The report gives an update on a program started in 2005 by the Government and the World Bank to increase the number of insured animals.

The report says 10,000 herders have been reimbursed MNT 2.7 billion for insured animals since the program began, and 1,300 herders from seven aimags received MNT 108 million in 2010.

The claims were paid by Mongol Daatgal, Tenger Daatgal, Practical Daatgal and Bodi Daatgal. Those organizations have a reserve of MNT 124 million.

Animal insurance has had reinsurance since 2010, with the reinsurance serviced through an international insurance organization. Representatives of the organization will arrive in Mongolia in October for an inspection tour.