Fram Farmers, one of the UK’s most progressive farmer-owned cooperatives, has launched a new, wholly-owned subsidiary, Fram Farmers Insurance Services, to provide bespoke insurance products and services for 1,200-plus member farming businesses who collectively farm over 270,000 hectares throughout the UK.
Formed in 1960, Fram Farmers provides the purchasing, grain marketing and administrative function for its members and enables them to obtain best value from the supply chain. The cooperative entered the insurance sector in 2015 as Fram Farmers N-sure, which enjoyed a very successful first three years, providing cover for around 10 per cent of member businesses at premiums which provided an average saving of 30% compared with their previous providers.
Based on this success, Fram Farmers believes that further, significant growth is possible in this sector, enabling it to provide even more members with significant savings and a first-class service. Consequently, it is taking its insurance business to the next level by making it a core member service, alongside other key inputs such as crop protection products, fertiliser, machinery, fuel, electricity and livestock products.
The importance which Fram Farmers is placing on this new venture is reflected in the fact that it being headed by Nick Hindle, Financial Controller for the Fram Farmers Group and Finance Director for Fram Farmers Insurance Services. The cooperative has also appointed Lauren Moran, an insurance industry professional, as its Insurance account executive. Based at the Group’s offices in Framlingham, Suffolk, she will spend much of her time visiting Fram Farmers members throughout the UK to discuss their insurance needs and provide bespoke cover.
A further key additional development in growing Fram Farmers Insurance Services is to partner with Scrutton Bland, one of the UK’s leading insurance brokers. Formed in 1919, Scrutton Bland is privately owned and holds long-established relationships with clients engaged in farming and associated business. Critically, Scrutton Bland understand that modern farming enterprises are becoming more diverse and have developed insurance solutions to meet these evolving requirements.
“As our members increasingly develop additional enterprises to enhance their income from core farming activities such as crop and livestock production it is vital that we work with an insurance broker with the experience, expertise and personnel to ensure that the right covers are in place to reflect these changes and protect their livelihoods,” Nick Hindle states.
“Through our partnership with Scrutton Bland, Fram Farmers Insurance Services provides members with bespoke insurance protection and risk management advice at very competitive premiums. Our range of insurance products and services include a farm combined policy for farm, home and property owners, fleet cover for cars, commercial vehicles and agricultural equipment, together with cover for directors’ liability, engineering, hail damage and business interruption.
Tim Mulley, Insurance Partner at Scrutton Bland, states: “In recent years we have placed an emphasis on building our specialist insurance teams. We have an excellent understanding and experience of the agricultural sector and our specialist insurance divisions support specific sectors by identifying risks and providing tailored insurance/risk management services.”
Richard Anscombe, chief executive, Fram Farmers, added: “I am confident that partnering with Scrutton Bland will enable us to build on our success in delivering the professional insurance service that members expect from the cooperative which they own.”