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This chapter discusses a large-scale study about the feasibility of developing and implementing risk management programmes for US aquaculture species (catfish, salmon, trout and baitfish) with the greatest economic value. Using aquaculture as an example, an approach is described for developing an animal disease insurance product. The steps involve determining risks, evaluating the nature of the risks, developing draft underwriting language to define coverage, collecting actuarial data, and assessing producer willingness to pay. It is determined that every situation in aquaculture is sufficiently unique that insurability conditions need to be examined on a case-by-case basis. An insurability condition matrix is used, and the way to elicit risk for these unique settings is discussed. Risks are then classified and the implications and potential for aquaculture insurance are discussed. It is concluded that guidelines …