This paper considers probabilistic models of hurricane-induced animal waste lagoon failures in North Carolina. A substantial number of waste lagoons exist in areas prone to hurricane damages. We evaluate expected losses which represent actuarially-fair insurance premium rates for a plan that would indemnify producers against damages from lagoon failures. Our results imply annual premiums ranging from under $100 per year to over $2,062 per year. An interesting result is that those areas with the highest levels of expected loss are also those areas with the greatest concentration of waste lagoons.