The NFU is launching a new insurance policy to cover the cost
of rent arbitration and the determination of disputes by the Agricultural
Working with NFU Mutual, the new Professional Expenses
cover has been developed in response to concerns raised by NFU
members at meetings.
Peter Crozier, NFU tenants’ national spokesman, said: "This
cover is just what members have been asking for. This new policy
will mean that tenants will not be deterred from seeking a fair
rent or resolving other tenancy issues by the cost of going to
a tribunal. It has been great to see that, after almost a century,
the NFU and NFU Mutual are still working closely together."
Meurig Raymond, NFU Deputy President, said: "The threat of
the cost of a rent review has, in the past, prevented members from
obtaining a fair and equitable rent for the land they farm. The
introduction of this policy by NFU Mutual will provide farmers
with the assurance that, should a dispute arise, they have the
backing of agriculture’s number one insurer."
The NFU’s close association with NFU Mutual made it the
obvious choice of partner for the venture.
Ian Geden, chief executive of NFU Mutual, said: "Our close
working relationship with the NFU provided an opportunity for us
to offer this product which has been tailor made for tenant farmers.
"Its addition to our product range demonstrates that NFU
Mutual understands the specific insurance needs of all farmers
and is well placed to provide all the financial services requirements
of both our existing and potential customers."
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