Island Life Magazine Ltd October/November 2010 | Page 91

country life

Island Life - October/November 2010
because we may be a bit cheaper, but

Mutual Insurance Society –NFU Mutual

customers. Matt continued: “All our

then shop around and go somewhere

for short – in 1919, coinciding with its

policies are underwritten to the national

else next year. We are very proud of the

arrival on the Island.

company, but apart from that we do

fact that our clients like to come back
to us year after year.”
Having looked through the company

The aim was to provide a low cost
insurance service to farmers, keeping

very much our own thing.
“Basically we provide a package.

the premiums within agriculture.

People who come to us tend to be

records Matt discovered that no fewer

It maintained that status for some

looking for a one-stop shop, so we take

than 93 per cent of Island policy

80 years, restricting policies to NFU

our financial consultant out to look at

holders who were with NFU Mutual last

members only, before finally widening

pensions, investments, and insurance,

year, are with them again this year.

its market to all-comers.

and can look at their general insurance

He continued: “We do try to build up

Matt explained: “The changes were

policies at the same time.

longer term relationships with clients

made because at the time a lot of

“In a way the ‘scare stories’ about

– it is all about loyalty on both sides,

farmers had diversified, and were

pensions have helped us, because we

because if I have to go back and explain

perhaps renting out buildings to

can go out to talk to people, and they

certain matters to them, they value

carpenters or builders, so it was a

know what we are talking about, and

that.

natural progression to pick up the

can explain exactly what is going on.”

“We like to visit all our clients. For

insurance for that as well.

example, we will go out to a farm

“There has been a big move into the

Perhaps one of the most unusual items
the Island branch was asked to insure

and have a walk around, see what the

way a farm is run, At one time farmers

was a replica of Batman and Robin’s

business involves and weigh up what

could manage on milking maybe 20

world-famous ‘Batmobile’ when it came

the risks would be to the business.

cows a day, but moving on from that

to an exhibition at the Brading Wax

farm sizes have increased, even though

Works.

“It could be that someone is worried
that if they lost their cows they could

the number of farms has fallen.

not operate. What would happen if the

“Over the last 10 years we have

Matt added: “There is a lot of
opposition out there, but I think what

milking parlour on a dairy farm was to

found a big increase in the number of

people like about us is that we will go

burn down? Or if the cows got out? We

smallholders who come to us for their

out and have a conversation, and see

try to offer the complete service.

insurance. People who may keep a flock

what is on site. Then we can sit down,

of sheep, or a few cows outside their

have a cup of tea, and run through

normal 9.0 to 5.0 job.

the policy. It’s a case of buying into

“With the typical dairy farmer we can
insure the buildings, the cows, and the
public liabilities. But of course in all this

“There was always going to be a

the farmer is the key person, so what

saturation point with farming, so to

happens if he happens to be off sick?”

grow as fast as we wanted to grow

Initially founded as the Midland
Farmers’ Mutual Insurance Society, the

the company rather than just buying a
policy.”

we had to look around for something
else.”

company changed its name to the NFU

The Island branch has around 3,000

Photo: The office
team hard at work at
the local NFU branch
Newport.

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