Co-op Fram Farmers launches insurance subsidiary

Suffolk-based cooperative Fram Farmers has launched a new subsidiary, Fram Farmers Insurance Services, to provide insurances for its 1,200 farmer members.

Formed in 1960, the group, based in Framlingham, provides purchasing, grain marketing and administrative function for farmers.

The cooperative entered the insurance sector in 2015 as Fram Farmers N-sure, which provided cover for around 10 per cent of member businesses.

Fram Farmers said it believes that further growth is possible in this sector. Consequently, it is making its insurance business a core member service, alongside other key inputs such as crop protection products, fertiliser, machinery, fuel, electricity and livestock products.

Nick Hindle, Financial Controller for the Fram Farmers Group, said: “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 to ensure that the right covers are in place to reflect these changes and protect their livelihoods.

“Through our partnership with Scrutton Bland, Fram Farmers Insurance Services provides members with bespoke insurance protection and risk management advice at very competitive premiums.”

He added: “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.”

The cooperative will partner with Scrutton Bland, one of the UK’s leading insurance brokers.