The NFU is launching a new insurance policy to cover the cost of rent arbitration and the determination of disputes by the Agricultural Land Tribunal.
Working with NFU Mutual, the new Professional Expenses cover has been developed in response to concerns raised by NFU members at meetings.
Peter Crozier, NFU tenants' national spokesman, said: "This cover is just what members have been asking for. This new policy will mean that tenants will not be deterred from seeking a fair rent or resolving other tenancy issues by the cost of going to a tribunal. It has been great to see that, after almost a century, the NFU and NFU Mutual are still working closely together."
Meurig Raymond, NFU Deputy President, said: "The threat of the cost of a rent review has, in the past, prevented members from obtaining a fair and equitable rent for the land they farm. The introduction of this policy by NFU Mutual will provide farmers with the assurance that, should a dispute arise, they have the backing of agriculture's number one insurer."
The NFU's close association with NFU Mutual made it the obvious choice of partner for the venture.
Ian Geden, chief executive of NFU Mutual, said: "Our close working relationship with the NFU provided an opportunity for us to offer this product which has been tailor made for tenant farmers.
"Its addition to our product range demonstrates that NFU Mutual understands the specific insurance needs of all farmers and is well placed to provide all the financial services requirements of both our existing and potential customers."
