With over 35 years of experience as a specialist rural insurance broker, McClarrons understands the unique challenges and risks faced by farming businesses, and the importance of ensuring they are adequately protected and supported by their insurance.
Our commitment lies in informing our clients about how to ensure they are appropriately shielded from the risks and challenges they face in their day-to-day operations and beyond. Central to this endeavour is Rural Protect – a specialist Management Liability insurance policy designed for farmers, rural business owners and managers.
Understanding Management Liability
Management Liability insurance is one of the core areas of protection for any business, offering crucial cover in events such as claims alleging negligence or other wrongful acts; this can include things like contractual and employee disputes, or action taken against you by a regulator. Rural Protect acts as a shield against the legal and financial repercussions that may arise from such claims, taking care of your legal costs to defend your business or one of its employees, and more. This policy can support your continued operation and sustainability of the business through what could be the toughest of times.
So, what is Rural Protect?
Rural Protect is a specialised Management Liability insurance policy for the rural sector, catering for farmers, rural business owners, and managers. This insurance policy provides comprehensive cover against a wide range of risks and challenges unique to agricultural businesses.
Here are some of the many benefits of Rural Protect:
- Rural Protect offers robust defence against regulatory investigations initiated by any UK regulator, including the Health and Safety Executive (HSE) and Environment Agency. The policy will also cover regulatory fines and fees issued by the with the HSE charging £166 per hour per inspector to investigate an incident*, costs can quickly escalate making having insurance cover for this extremely valuable.
- In conjunction with leading law firm rradar, the Rural Protect policy provides 24/7 emergency access to a solicitor through rradar’s crisis line so should you need instant legal assistance, it is there. With a solicitor’s hourly rate ranging from £126-261 per hour**, just 2 hours of a solicitor’s time could cost as much as the Rural Protect policy’s premium!
- Legal advice is protected by Legal Privilege, this means discussions with solicitors are confidential and not admissible in court. This ensures that confidential communications between the insured and legal counsel remain protected.
- Unlike many Legal Expenses policies, defence is covered even when the prospect of success is below 51%, ensuring legal defence is accessible even in more challenging circumstances and, arguably, when you need it most.
- Fraud cover for instances when accidental payments are sent to a fraudster’s account is also provided – invaluable to recover such losses.
- Pursuit cover to pursue third parties for contract disputes, to recover debts or payments owed to you, such as tenant rent disputes.
- Access to HR-related advice over the phone or online to support with any employee concerns, contracts or potential disputes is also provided under the policy.
- Online access to rradar’s digital tools, including topical articles and document templates that can support you in the day-to-day running of your business.
- Family Legal Expenses provides cover for all business owners, partners or directors and their residing families ,with a plethora of covers that assist in day-to-day domestic legalities such as Consumer Disputes, Identity Theft, Social Media Defamation, and Clinical Negligence, to name but a few.
The real question to ask yourself is, if there is a legal or regulatory issue at your business, how much time and money are you prepared to spend to deal with it?
The average claim cost seen under the Rural Protect policy is £12,020***, with cover starting from £355.33 (including IPT and insurer fee, based on a business with an annual turnover of up to £200,000 and a cover limit of £250,000) meaning the policy provides real value to policyholders, and with AXA the underlying insurer for Rural Protect, you can have confidence knowing it is backed by a reputable and stable household name.
So, whilst you may see value in a Rural Protect policy, why work with McClarrons?
- Expertise in Farming Insurance: Our Rural team comprises of insurance specialists well-versed in the complexities of farming operations and insurance policies. We provide guidance to ensure that your insurance cover aligns with the unique needs of your business, advising on your levels of cover and what your specific business might be exposed to when it comes to risk.
- Specialist Solutions: We work closely with our insurer partners to ensure our clients receive insurance cover that is going to work for their needs, priorities and challenges. This often means working with specialist insurers who have an understanding of the agricultural industry.
- Reliable and Consistent Advice: In an industry marked by uncertainty, McClarrons serves as a dependable source of advice, offering reliable solutions to navigate the complexities of agricultural insurance.
- Claims Assistance: In the unfortunate event of a claim, we stand as advocates for our clients. As an independent broker with an in-house Claims Team, we liaise directly with insurance providers and loss adjusters on your behalf, ensuring a streamlined and fair claims settlement process.
Get in Touch
To learn more about how McClarrons and Rural Protect can safeguard your farm and livelihood, or to request a free review of your insurances, reach out to our dedicated Farm Team at farm@mcclarroninsurance.com or call us on 01653 609152.
Sources:
*https://www.hse.gov.uk/fee-for-intervention/what-is-ffi.htm
**https://www.gov.uk/guidance/solicitors-guideline-hourly-rates
***The average claim cost in 2022 based on outstanding and paid claims at October 2023.
