Avon Insurance PLC
Avon Insurance is a member of the NFU Mutual group and shares its registered offices with the group's headquarters in Stratford-upon-Avon, in Warwickshire.
NFU Mutual - is a mutual society (that is, it is owned by its policy holding members rather than shareholders) - of the National Farmer's Union. Indeed, it was set up in 1970 by just seven farmers, of the Stratford and District Farmer's Union, who wanted to attract new members to the farmers' union by offering insurance at reduced rates.
NFU Mutual continues to employ a large network of some 5,000 employees and agents in more than 300 branch offices around the country.
It currently underwrites more than an estimated £1 billion in annual premiums from general insurance and life policies, principally among rural communities. Although the mutual's objectives clearly focussed on farmers and their rural communities, the 1980s saw it diversifying into non-farming communities, too. It is estimated that around half of its business now comes from non-farming customers.
In fact, NFU Mutual began to sell insurance to non-NFU members as early as 1925 and set up a specific affiliated company to do so. As a result, Avon Insurance was born. This had the effect of significantly expanding operations such that the 40 or so staff employed by NFU Mutual in 1923 grew to 150 employees by 1933.
By 1935, NFU Mutual was insuring nearly 100,000 farmers and by 1952, annual income was approaching £4 million, with total assets of some £9 million.
Together with its affiliates, such as Avon Insurance, the NFU continues to sell general insurance products directly to its customers through its network of branches.
Landlord insurance differs from standard home building and contents insurance in so far as it typically protects not just the bricks and mortar of the landlord's investment in the property itself, but also the business that that is being run by the landlord.
In other words, cover for the structure and fabric of a let property (and its contents) may lie at the heart of landlord insurance policies, but there is an equal emphasis on the potential liabilities borne by the landlord - liabilities such as public or property owner's liability, employer's liability and the potential for the loss of rental income in the case of an insured event.
Avon landlord insurance
Avon Insurance not only actively markets landlord insurance as a product for its business customers but also publishes on its website an article offering advice to landlords with respect to good practice and to their rights as a landlord.
Avon's landlord insurance features the following standard clauses relating to:
- property owner's liability cover of up to a maximum £2.5 million;
- environmental liability cover of up to £1 million in the event of claims arising from gradual or accidental pollution (thus recognising the farming background of many of the company's landlord customers); and
- a standard business cover package that features all risks protection, including loss of rental income.