New life insurance campaign against accidents on farms

Wednesday, May 5, 2010

The UK’s largest rural insurance company, NFU mutual, announced record income figures this week for 2009 as they reached the £1 billion mark for the very first time.

The company also announced that they were concerned about how many accidents occur in the farming industry at present.

As a result the company are launching a campaign to help reduce the amount of deaths and serious injuries on farms.

Agriculture currently heads the list of dangerous occupations in the UK, NFU Mutual’s response to this has been to strengthen their risk management subsidiary which gives farmers advice on safe working practises as well as working with the National Farming Union bodies and the Health and Safety executives in order to expose and ascertain the main causes of rural accidents.

Now in its 100th year of service, NFU Mutual has grown steadily and consistently, this can be attributed to 93% of general insurance customers renewing their policies over the last 12 months.

The premium for general insurance was up 8% to £1.02 billion with after-tax profit coming in at £274 million a stark contrast to the £453 million loss in 2008.

Most of the claims the company received were for farm accidents hence the new initiative, but there were also a substantial amount of claims from young drivers that had been in accidents.

The company also announced that they are going to double mutual bonus payments made to its renewing general insurance policyholders who have been insured with them for five years or more.