Rural Insurance No Longer Offering Equine Insurance
Rural Insurance are no longer accepting new equine insurance applications and will withdraw from the market altogether on 2nd April 2016.
Equine insurance is very difficult to run profitably and it appears this is the case at Rural. As with all insurers a period of sustained losses in a particular class of business will lead to difficult decisions being made. Rural Insurance are specialists in agricultural and rural policies and will continue to offer some great products to their brokers and clients.
The question now is will there be a new entrant to the market to pick up the slack or will we see an increase in premiums as the remaining insurers concentrate on making equine insurance profitable.I think we will certainly see some increases in vets fees premiums as historically this is the area that hits insurers hardest and we may even find that some insurers will remove vets fees cover from their offering.
We will be keeping a close eye on developments and will be keeping you updated with the progress.