Catastrophe Cover For Flood Hit Farmer

CANTERBURY FARMER CLAIMS ON CATASTROPHE COVER FOLLOWING FLOOD

Heavy rain in the Canterbury foothills over the weekend of 19 & 20 August caused extensive flooding throughout the region resulting in damage to many farms and stock losses.

One farm effected was Kevin Harmer’s 230-acre sheep stud property in the Dunsandel in Central Canterbury, when the normally placid Selwyn River overflowed its banks. The Harmers lost fencing, livestock, hay and pasture cover, irrigation pipes, and an access track and culverts were washed out. The flood also swept away a river buffer zone, which had been planted in willows to protect the farm against erosion.

Damage caused by the flood has been independently assessed at some $27,000 plus GST, with extensive restoration required before the affected area can be returned to its pre-flood condition.

However, Mr Harmer had recently taken out an innovative new insurance cover for farmers, Catastrophe Cover from Farmers’ Mutual Group, which provides cover against accidental loss to farm fencing, grazing pasture, livestock, land, and live shelterbelts caused by fire, flood, windstorm and natural disaster.

“Catastrophe Cover was developed to give farmers such as Mr Harmer immediate and tangible relief from disaster. With New Zealand weather patterns changing rapidly, what was once considered a 100-year event like Cyclone Bola, is now becoming more frequent,” says Farmers’ Mutual Group Manager – General Insurance, Alister Martin.

Mr Harmer is one of the first policyholder’s to claim on the new policy, which has proved popular amongst farmers.

“We had an assessor visit the property immediately so that restoration work could begin without delay,” Mr Martin said.

The Catastrophe Cover product has two sum insured options - $20,000 or $50,000 and is offered as an optional benefit to Farmers’ Mutual Group Rural Pak policy. Farmers’ Mutual is a specialist rural financial services provider with an estimated 40 per cent of the rural insurance market.
ENDS

For further information, please contact:
Alister Martin Telephone: 06 351 8865 DDI
Manager – General Insurance 0800 366 466
Farmers’ Mutual Group 06 357 5408 After Hours

Issued by Shandwick International on behalf of Farmers’ Mutual Group

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