NFU Mutual in trouble ?

Top Tip.

Member
Location
highland
so what’s all this about then ? any TFF members part of this group action ?

I think it will be down to the fact that the mutual refused to pay out on the business interruption claims that came in due to covid. I know there was a lot of very unhappy people who thought they were covered but there was a clause excluding pandemic’s in the small print.
 

holwellcourtfarm

Member
NFFN Member
I think it will be down to the fact that the mutual refused to pay out on the business interruption claims that came in due to covid. I know there was a lot of very unhappy people who thought they were covered but there was a clause excluding pandemic’s in the small print.
If so then there's no claim, surely?

Unless they were led to believe otherwise.
 

ed g

Member
Location
Weston-s-mare
It’s because the Nfu like many insurance companies refused to pay out on business interruption policies. We were refused as even though we had a business interruption policy to cover Human diseases the Nfu did the dirty on us refusing to pay as COVID wasn’t on their secret list of insured diseases. . Cost us hundreds of thousands of pounds. Needless to say the Nfu are not our favourite people anymore.
 

holwellcourtfarm

Member
NFFN Member
It’s because the Nfu like many insurance companies refused to pay out on business interruption policies. We were refused as even though we had a business interruption policy to cover Human diseases the Nfu did the dirty on us refusing to pay as COVID wasn’t on their secret list of insured diseases. . Cost us hundreds of thousands of pounds. Needless to say the Nfu are not our favourite people anymore.
Ah, so the challenge is really about the secret nature of the list of diseases covered.
 

ed g

Member
Location
Weston-s-mare
I think in this case it’s for a different reason - I haven’t read the details of the case but a Lot of farm parks were turned down for lots of different interruption claims as we all had to close during lockdown but because farms didnt close because of a COVID outbreak in individual parks the nfu and other firms used loopholes to get out of paying
 
Seems like if the business interruption was exacerbated by government policy then government is where the compensation should come from.
It’s being treated similar to when insurance will pay out for fire damage but not willing to pay to replace the electrics which caused the fire….🤷🏻‍♂️🤦🏻‍♂️
 

Top Tip.

Member
Location
highland
Seems like if the business interruption was exacerbated by government policy then government is where the compensation should come from.
It’s being treated similar to when insurance will pay out for fire damage but not willing to pay to replace the electrics which caused the fire….🤷🏻‍♂️🤦🏻‍♂️
Same as they will pay for water damage from a burst boiler but they won’t pay for the boiler.
 

Bramble

Member
I think in this case it’s for a different reason - I haven’t read the details of the case but a Lot of farm parks were turned down for lots of different interruption claims as we all had to close during lockdown but because farms didnt close because of a COVID outbreak in individual parks the nfu and other firms used loopholes to get out of paying
Sounds similar to school fees insurance
 

daveydiesel1

Member
Livestock Farmer
Location
Co antrim
It’s because the Nfu like many insurance companies refused to pay out on business interruption policies. We were refused as even though we had a business interruption policy to cover Human diseases the Nfu did the dirty on us refusing to pay as COVID wasn’t on their secret list of insured diseases. . Cost us hundreds of thousands of pounds. Needless to say the Nfu are not our favourite people anymore.
But surely if it wasnt on the list of diseases covered in the policy u paid for then u cant expect to get a payout?
 

LadyTwoFourEight

Member
Mixed Farmer
Speaking here as someone woth some knowledge of this action... The NFU Mutual sold various business interruption policies. One of them covered for closure of businesses due to an order by a public office holder.

The NFU MUTUAL said that the pandemic wasn't an incident so they didn't have to pay. They got a little support for thks analysis from the FCA test case, in the High Court, but the reasoning used by that lower court to get there was rejected in the UK Supreme Court.

The extent of cover was £50,000 per policy. They sold, I understand, 9,000 policies of this type.

*This means the mutual may owe nearly half a billion pounds because of this*.

Did the directors mention this in the 2020 or 2021 accounts? No!!! This is a staggering thing to not be open about.

This, put with losses of £290m in one year and £141m is a slightly shocking comment on the commercial competence of the senior management. Who paid themselves, in one case £6M total remuneration recently.

Not altogether a happy situation!
 

Badshot

Member
Location
Kent
Pandemic was covered by the policies in the first part of the pandemic, but was written out as renewals were made.
If a government grant, seiss, etc was made they didn't pay out.
 

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HSENI names new farm safety champions

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Written by William Kellett from Agriland

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The Health and Safety Executive for Northern Ireland (HSENI) alongside the Farm Safety Partnership (FSP), has named new farm safety champions and commended the outstanding work on farm safety that has been carried out in the farming community in the last 20 years.

Two of these champions are Malcom Downey, retired principal inspector for the Agri/Food team in HSENI and Harry Sinclair, current chair of the Farm Safety Partnership and former president of the Ulster Farmers’ Union (UFU).

Improving farm safety is the key aim of HSENI’s and the FSP’s work and...
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