Rural ‘first to market’ with green insurance to meet rising
demand from farmers

3rd January 2012

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Key UKGI partner, Rural Insurance, has launched a suite of green insurance products to meet growing demand in the farming sector - which UKGI members can now access.

Simon Stevens, Rural Insurance managing director, said Rural is the first insurance company to offer these products to the farming sector, and was driven by rising demand: “Our brokers have been telling us that more and more of their farming customers are investing in green energy, such as wind turbines and hydro-schemes. Our customers will be able to purchase cover either as a standalone product, or as a bolt on to our farm combined product.”

Mr Stevens said that, for the first time, farmers would be protected from both material damage and loss of revenue. “Many farmers sell excess electricity from, say, their wind turbines into the national grid, generating a revenue stream as well as power for themselves. We will cover not only material damage to plant and equipment, but also loss of revenue from onward sales. No other agricultural insurer provides this level of cover,” he added.

He added that, given investment in renewables can be expensive (a typical small hydroelectric scheme costs £25,000, according to the Energy Saving Trust), it also made sense for farmers to insure against material damage and revenue loss.

UKGI are delighted to be able to offer this product to our members, continuing our commitment to develop and grow our member benefits.