Farmer owned supply and marketing group Fram Farmers has launched a new, wholly-owned subsidiary to provide insurance products and services for its members. The move follows its appointing the Scrutton Bland East Anglian insurance agency as its partner earlier this year.
The cooperative started offering insurance sector in 2015 as Fram Farmers N-sure, which grew to provide cover for 10% of members over its first three years, at an average 30% saving in premiums.
This has prompted the group to take the insurance business to the next level by making it a core member service, alongside the supply of other essential supplies such as arable inputs, machinery, energy and livestock products.
Fram Farmers group financial controller Nick Hindle will lead the new Fram Farmers Insurance Services subsidiary, which is based at the group’s offices in Framlingham, Suffolk. At the same time, insurance industry professional Lauren Moran becomes insurance account executive, responsible for visiting Fram Farmers members throughout the UK to discuss their insurance needs and cover.
“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,” states Mr Hindle.
Fram Farmers chief executive Richard Anscombe adds: “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 their co-operative.”