Farming in Northern Ireland has seen unprecedented changes in recent years with the prospect of further upheaval ahead. From the new Inheritance Tax rules to fluctuating commodity prices to increasing cost of overheads, the resilience farmers are well known for has been tested in the extreme.
Insurance is a key part of the farming industry’s safety net against catastrophe. However, it too has seen changes which may increase the risk of being left with inadequate cover. Increases to the cost of building materials, labour and livestock has seen a rise in underinsurance issues leaving farmers underpaid for claims.
Gary Proctor, Insurance Broker & Risk Manager at T L Dallas (NI) Ltd, said “Steering a course for those people operating in the farming sector and building the right portfolio of cover needs more careful attention than ever before.
“Ultimately farms and associated businesses must balance cost versus risk and our specialist knowledge and ability to provide a completely bespoke service, using a variety of insurance solutions, sets us apart.”
The T L Dallas Group has a long heritage in providing farm insurance and has recently expanded its agricultural team in Northern Ireland. Account Executive, Phillip Gault, added: “Farming and related businesses require specialist knowledge and experience. At T L Dallas (NI) Ltd we have plenty of both. We have access to both the farming and commercial insurance markets, which allows us to provide clients with a flexible and creative approach to arranging their insurance needs.
“We believe in sitting down with clients in face to face reviews, to make sure their specific needs are met and to ensure we can look after them when they need to make a claim. One of the many benefits of using a broker is that we represent the client and not the Insurer. This would not be the case when dealing with a direct insurer.”
T L Dallas (NI) Ltd is part of T L Dallas & Co Ltd, a family and employee-owned business founded in 1919 and part of the TL Dallas Group of Companies. T L Dallas is one of the UK’s leading independent insurance broking firms and the Belfast team is based on 63 Malone Road. Call 02890 380980; email ni@tldallas.com or visit www.tldallas.com/northern-ireland for more information.