Western Forestry Co-op having been running a group forest insurance scheme since 1988 in response to a need from our members who were refused to be insured privately from insurance companies.
The Co-op both designed and administers the group scheme and is a group policy negotiated through JLT Insurance Brokers Ltd and underwritten by FBD Insurance Ltd. Due to increases in timber values over the past 5 years and feedback from members we recently undertook a review of the insurance scheme and are delighted to outline that:
- The Sum Insured Value (of Timber) has been increased at little or no extra cost for policy holders
- A reduction in the premium per hectare for Reconstitution Cover (replanting costs)
- Increased Fire Brigade Cover from €10,000 to €15,000, at no extra cost
There are four elements to our group forest insurance policy:
Sum Insured: This covers for loss of growth in the value of your timber
Reconstitution Cover: This covers the cost of reinstating your forest. Please note you are required by law to replant any forest area if felled, burnt, damaged etc.
Fire Brigade Cover: This covers the cost of fire brigade charges
Public Liability: Cover for legal liability in case of injury caused to members of the public arising from your forestry activities
The main causes of forest fires over the past 5 years have been gorse burning, peatland burning, accidental fires and unfortunately arson. May 2011 was the worst year for forest fires where 1500 ha was burnt.
The Perils covered under the insurance scheme are loss or damage caused by Fire, Lightning, Aircraft, Explosion, Riot, Civil Commotion, Malicious Damage, Storm (up to 20 yrs) and Flood.
Please contact Sarah for more information on 071-9161458 or click here to request a quote online