FarmWeb launches new product in broker tie-up

FarmWeb, the network of specialist agricultural brokers, has concluded a multi-million pound business deal which sees the company develop a new sector in its farming portfolio.

The product, Estate Protector, has been developed in conjunction with R K Harrison Insurance Brokers, and enables FarmWeb members to target country estate businesses across England, Scotland and Wales. R K Harrison will provide an underwriting service and issue documentation for FarmWeb members.

FarmWeb chief executive, Elaine Pyke, said: “We are delighted to announce this major new initiative which is good news for our brokers, provides a unique and competitive product in a specialist market sector and, as we go into our second decade in business, enables us to grow our income significantly."

Pyke added: “We have worked closely with R K Harrison, using their expertise to develop what is a superior product and it is already proving hugely successful and popular. It is being underwritten by our long term underwriting partners, NIG, and, as they are new players in the estates market, the new business opportunity this brings to them, further enhances our partnership.”

FarmWeb currently has 80 brokers across the country and a condition of membership is that brokers must have specialist knowledge of the farming industry.