Rural Retail & Liability Cover Available from BIB Sister Company

NEW insurance products developed in the North East are set to help rural businesses nationwide.

The policies, being offered through BiB Insurance Brokers in Darlington, are designed to meet the specific needs of rural enterprises and trades people based in rural areas.

The first, the Rural Business policy, offers better value to out-of-town enterprises because it does not carry the increased risk and extra cost associated with insurance for urban businesses. It is targeted at six sectors – commercial property, small businesses, tradesmen, retail, offices and small hotels.

Experts at BiB’s sister company, the highly successful BiB Underwriters, have spent 12 months perfecting the policy, which was developed following enquiries from clients.

Emma Lancaster, commercial underwriter at BiB Underwriters, explained: “We are filling a need in the market with this policy because it has been designed predominantly for small, rural businesses."

“The premiums offered through the rural business policy are lower because the scheme is not picking up the losses more commonly suffered by inner city businesses such as increased crime levels and other risks found in urban areas. The conditions in rural areas are different and the risks lower. The rural business policy takes this into account and has features that meet the specific needs of businesses that are not in a town.”

Emma added: “We have many years experience of developing and wholesaling products specifically aimed at the farming and rural business community and this is the latest that addresses their special circumstances.”

BiB is also offering liability cover to an extended list of trades people in rurally-based, non-agricultural businesses such as builders, electricians and plumbers.

It follows the success of its Liability policy that was originally designed by BiB Underwriters to meet the needs of individuals and businesses working as agricultural contractors and allied trades.

The policy can be broken down by activities, such as baling, spraying and ditching, to provide cover that is best suited to each individual business.

Emma added: “After listening to our brokers, and based on the success of the initial scheme, we have recently expanded the list of trades we can quote for under this scheme into rurally based non-agricultural trades.”

Vicki Lancaster, an account executive with a specialist focus on rural matters at BiB, added: “We expect these new policies to be very popular among our rural business clients and new customers who are keen to take advantage of insurance that is designed for their business. As well as the backing of major national insurance companies, the policies are available through brokers like BiB that are based in non-city environments and are familiar with the needs of rural businesses.”