The Specialist

Welcome to our Autumn 22 edition of the Specialist.

It has been an eventful six months since our last edition; a sharp uptick in inflation, rising interest rates, two new prime ministers and a new monarch. It was with deep sorrow that we learned of the death of Her Majesty Queen Elizabeth II. Weatherbys was extremely privileged to have a long-standing relationship with the Queen, both through her passionate support of racing and breeding over so many years and with Sir Johnny Weatherby’s tenure as Her Majesty’s Representative at Ascot. This is something that we as part of the Weatherbys group will be forever grateful and proud.

We have a broad spread of articles in this edition which I hope you will find of interest. With the insurance market as difficult as any other at the moment, please do not hesitate to get in touch if there is anything that we can help you with.

Richard Chugg Joint Chief Executive

Watches - the increasing value of time

Having recently been burgled, I know only too well how the value of even an ordinary every day wristwatch has surged.

Watches are easy targets for thieves. From the drive-by motorbike, moped or e-bike heists you now read about in the newspapers; to targeted attacks on your home. Regrettably, in June of this year there was a 60% rise in London in knifepoint watch robberies, with Kensington, Chelsea and Fulham being the main areas. This is being driven in part by the very high values that watches are making in the second-hand market.

2020 was regarded as the year when the secondary market for watches went ballistic, as many people took advantage of those long days of lockdown by purchasing highly desirable brands such as Patek Philippe, Rolex and Audemars Piguet at a time when production was stalled due to the pandemic. Patek, for example, only produced 6,500 steel watches in 2020 when in a normal year it produces over 60,000. As a result, a steel Patek Philippe Nautilus was selling at more than double its retail price on the secondary market.

These prices may have come off their 2020 highs but the secondary market is still buoyant according to Alastair Meiklejon, watch expert at Doerr Dallas Valuations. He illustrated a recent article with the fact that the Audemars-Piguet Royal Oak Jumbo which peaked at £130,000 is now selling for £90,000, but that is still considerably higher than its advertised retail value of £35,000.

I am sure that serious collectors keep a close eye on their investments but most of us don’t realise quite how expensive our watches have become until we make that claim. Now more than ever there is merit in an up-todate valuation. The value of a watch will be determined by a number of factors beyond just its desirability, its condition, the complexities

of its movement, the origin of its components and its box, papers and other accessories. Limited editions will further enhance a watch’s resale price and replacement value for insurance purposes.

There are free appraisal tools online which can give you a quick sense check but insurers require an accredited jeweller from the National Association of Jewellers (NAJ), or an insurer approved valuation service such as Doerr Dallas Valuations, in order to agree the sum insured of a very valuable watch. These valuers can offer a desktop valuation, or for a large collection would visit your home. However, if you need advice on the insurance of a watch it is worth first discussing it with your broker to make sure that your cover reflects what you need.

Clare Blakely cblakely@weatherbyshamilton.co.uk

The future of agriculture

- what do we want?

Diversification has become an everyday consideration for farmers. From self-storage to biodiversity; renewables to flood prevention; delicatessens to breweries. All on top of the expectation of providing food for the nation. Are farmers currently experiencing the ‘perfect storm’ in which unfavourable circumstances have contributed to the current cost of living crisis or is the future of farming and the delivery of food to our tables being called into question?

The farming community itself is certainly not exempt from the current cost of living crisis. Pressure on the supply chain caused chiefly by the war in the Ukraine has seen prices for both fertiliser and feed increase significantly over the past 12 months. In May 2022 the price of UK-produced ammonia nitrate fertiliser had increased by 152% year on year with imported prices up by 171%. The cost of potassium chloride (potash) had increased by 165% and phosphate fertilisers

by between 120% and 128%. There are obviously calls on Government largesse from every direction and capping fertiliser prices and reviving mothballed fertiliser plants are undoubtedly wishful thinking, but we have got to work out what we want if we are serious about food security. The problems are across the divide; from arable farmers faced with the decision of whether to cultivate fields to those with poultry on whether to keep going at all.

Many tenant farmers have below average wages with income of £29,000 a year. The transition from the old to the new farm payments scheme is causing cash flow issues as basic payments are being withdrawn before the new Environmental Land Management Scheme is ready to be implemented. Farm representatives and Green groups have broadly welcomed the new farm support policies of the Agriculture Act 2020 but farmers are concerned that food production

itself has not been included in the list of purposes for which funding can be provided. Farmers lost 5% of their basic payment last year, will lose 20% by the end of 2022, and will lose it all by 2028. Given that payments for livestock farms account for 80% of their profitability, this is a pressing issue.

The other side of the coin is obviously the substantial rise in the value of produce, with direct consequences for the cost of the food on our shelves. This has been exacerbated by the Ukraine conflict which has placed serious restrictions on two of the world’s most significant exporters of foodstuffs and fertilisers. Even though the Government does not believe that the UK will see reduced food availability, inflation at 10% may easily mean a cut back by consumers on many products, and in particular meat. Even mince, traditionally a budget friendly option, is now deemed expensive by shoppers. Food insecurity, already a problem before the conflict, is not limited to the UK as many poorer areas of the world rely heavily on Russia and Ukraine for food imports.

There is a danger that anxious farmers may be forced to consider their farming positions in both the short and long term, turning to other options such as selling or leasing land for development, solar farms, or reverting to more intensive and less sustainable farming to make ends meet.

The economic crisis is heightened in rural areas where some may not be connected to mains gas. Where there is reliance on heating oil, for which there is no regulator and no confirmed price cap, energy bills are potentially unlimited. Meanwhile, the historically contentious issue of second home ownership is clearing communities of local people unable to afford to compete in the property market. All of this piles pressure on the wellbeing and mental health of rural communities which have the added burden of isolation. The pressure feels more intense if you’re a multi-generational farmer with the

expectation on young shoulders of being able to continue to run the family farm. Farmers are exhausted, drained, and the frightening statistic is that one farmer a week in this country takes their own life.

The fall in the price of oil from its peak of a few months ago, the opening up of some of Ukraine’s export routes, the recent Government briefings such as ‘Farm Funding: Implementing New Approaches’ and ‘Food Security’, all can play their part in turning the tide, but they are only flirting with the big issues. The problem is that farming affects everybody, but until there are food shortages, interests few. Farmers are needed for the future but if farming continues the way it is without intervention, who will step into the gap and sustain the UK in the way that we are all accustomed? Or is it the nation's habits that need to change?

TO FIND OUT MORE, WHY NOT GET IN TOUCH:

Jack Frost jfrost@weatherbyshamilton.co.uk 07432 227884

"The problem is that farming affects everybody, but until there are food shortages, interests few."

Yukon 700 - 8 Grenadiers, 15 eyes, 13 legs and 99 years’ service…

By Guy Denison-Smith & Ben Stephens

At midday on 8th June 2022, a team of Grenadiers set off in open canoes from Whitehorse in the Yukon Territory, Northwest Canada. The mission – to paddle the whole way down the River Yukon unsupported through one of the world’s last great wildernesses, with the dream of getting to Dawson City some 750km north. What is remarkable about this adventure is that five members of the team have mental or physical injuries from their operational service in the Grenadier Guards.

The expedition was the brainchild of Major Jon Frith (still serving and the team's only veteran of the Yukon) and Lt Col (retd) Guy DenisonSmith (served 1991-2017). It was 18

months in the planning with the “sword of COVID” hanging over us throughout; we didn’t know until 2 months out if we could proceed. Then the green light was given and proceed we did, with the date set for June 2022 when usually as ex Guardsmen we would be settling down in front of the telly to inspect the Trooping the Colour.

Along with Jon and Guy, the rest of the team was made up with Paul Richardson (PTSD; served 198495), Ben Stephens (1990-97), Alex Harrison (blindness; 2003-09), Dougie Adams (PTSD; 2005-14), Garth Banks (double amputee; 2009-14) and Tony Checkley (single amputee; 2009-15). We

ranged in age from 32 to 58 and between us have seen deployments in Northern Ireland, Bosnia, Iraq, and Afghanistan across 99 years of service.

Jon and Guy made up the advance party and left for Whitehorse via Vancouver a day before the rest to prepare the canoes, purchase final essentials and gather the team's rations. The remainder arrived a day later in time to give everyone a chance to adjust before getting on the river for a training day before the big off. The training day saw us getting to grips with our paddles, working out how to manoeuvre our canoes, keeping our balance and practicing some much needed

“This is the law of the Yukon, and ever she makes it plain, Send not your foolish and feeble; send me your strong and your sane.”

Robert Service “The law of the Yukon”

“action on” drills. Cold water shock (the Yukon is glacial melt water) was experienced during capsize drills. Basic first aid training, “action on” bear attack, fire lighting and a few other basic survival skills were also dusted off. After all, we were heading off into the wilds where the nearest help would be 24 hrs away at best. Our last evening in civilisation was spent in the aptly named “Dirty Northern B*****d” Bar in Whitehorse where on emerging after dinner we were to discover the sun never sets this far north in June.

Launch day arrived and last-minute admin and purchases were followed by packing canoes and final kit checks; and on the strike of midday,

we launched our two-man canoes into the current and began the downstream journey North. The first 2 days were hampered by some high winds, the odd squall of rain and the rather long 60km millpond of Lake Labarge; a seemingly endless expanse of water bounded by snow-capped mountains that never appeared any closer hour after hour of paddling such was the size of the surroundings. We began to feel very small in mother nature’s wilderness. The distance covered in these early days was limited to 110km, but by the evening of Day 2 we had made it to the northern end of the lake where we were joined by a moose and hordes of mosquitoes. The moose moved on, but the mosquitoes were

to become a permanent feature when not on the river. This was the only occasion where we successfully cast a fly, catching a couple of (very) small grayling on a “little brown job” normally associated with a classic English chalk stream. Thankfully, we had not relied on fishing for our supper!

We woke on Day 3 to blue skies, but it wasn’t to last. We set off early, saw our first brown bear and were stalked by an osprey for several kilometres. After our peaceful start to the day, the weather quickly turned. The wind and the rain attacked relentlessly for several hours. “Not quite what I signed up for” was muttered more than once.

Safe to say that the conditions were miserable. We rafted together, hunched up against the elements at the junction of the Teslin and Yukon Rivers. The merging of these two rivers saw water levels rising significantly. The Teslin brought with it higher volumes of water due to the late snow melt and considerable rainfall. These higher water levels turned the river chocolate brown and sped up the current and would continue to cause problems for the remainder of the trip.

Having completed over 120kms, we set camp up on a small island, safe from bears and without vegetation, so nearly mosquito free. However, we soon realised the river hadn’t finished rising. With the water level increasing, we "stagged on" throughout the night to ensure that we were not washed away. By 5am it was time to abandon our considerably shrinking island and

head off whilst we had the time to pack up camp.

Day 4 saw us heading for Carmacks, roughly the mid-point of the expedition and the only significant settlement on our route. The river continued to rise. We reached Carmacks in the late afternoon and grabbed some fresh rations in the guise of burger and chips! Suffice to say that it looked far better than it tasted. After an hour and some quizzical looks from the locals at our abled and limbless motley crew we pushed off into the now very fast flowing Yukon to search for our next camp. No easy task when the islands had mostly disappeared underwater and the steep riverbanks would make extraction difficult for the able bodied, let alone limbless.

Day 5 saw our 4 boats head for Fort Selkirk, a distance of around 110km, and the meeting point of the Yukon and Pelly River systems. But first we

had to contend with Five Finger Rapids. Nervous energy across the team was noticeable. Of course, this was also the day we put the two amputees in the same boat. With one leg between them, they took on the rapids first. No excuses for the rest of us! We all got through unscathed, albeit with a little luck, and then headed on towards Fort Selkirk arriving in the early evening. We were warmly welcomed by Rita and her family from the Northern Tutchone people. The Fort had been established in 1848 by Robert Campbell for the Hudson’s Bay Company and housed a detachment of the Royal Canadian Mounted Police until 1952. Since then, Rita and her family have cared for the site maintaining it as it had been left 70 years before.

Leaving Rita proudly flying a Grenadier flag we donated to her and wearing one of our caps, we bade farewell to tackle Day 6.

"The water level was still rising as we headed for the junction of the Yukon and White River. Along the way, we were joined by a moose who had decided to swim across our path, at this point the river being a km wide; a truly sensational sight."

The water level was still rising as we headed for the junction of the Yukon and White River. Along the way, we were joined by a moose who had decided to swim across our path, at this point the river being a km wide; a truly sensational sight. We camped that evening at “Thistle” finding a navigable exit that the local gold prospectors had forged in the dense forest. “Yukon Gold” being very much the thing this far north. The evening passed without incident, and we left the following day knowing that we had 200kms left to cover until we reached our final destination.

However, danger was never far away on our penultimate day! The high and fast water brought with it huge amounts of deadwood and debris; everything from fully grown trees to small logs. This was to be dodged at all costs as we didn’t want a damaged canoe. Fortunately, we managed to avoid any major issues. However, that wasn’t the

end of our troubles on that day as we seriously struggled to find somewhere to camp. After paddling 140kms, we considered pushing on to Dawson City! A 200km day would not have been ideal at this stage of the expedition – but if you can’t get off the river there isn’t much option. Fortunately, we found a partially hidden landing spot where a logging track met the river. It was the ideal location for our last night in the wilderness. Bear and moose footprints greeted us but we were not going anywhere.

We woke on our last morning with 50kms to go to Dawson City and were joined for breakfast by a couple of inquisitive beavers. With the camp packed up for the last time and the canoes made ready we headed off, arriving elated at our destination by midday. The sense of achievement amongst us was huge. The team had overcome every obstacle together – every man

played his critical part. It was for the briefest of moments as if we were all serving again, in a close-knit team, dependant on one another and only ever having to think about food, shelter, survival and the task at hand. Living under the never setting sun, in unfamiliar territory, with every sense straining to distinguish if the noises of the wilderness were friend or foe we had come out the other side. We had taken on mother nature and learnt to go with the flow...literally. This was a truly memorable experience for all of us and showed that disabled or not, together extraordinary things can be achieved.

We were all truly humbled by the level of support we received from Weatherbys Hamilton and so many more. All said and done we raised enough to donate £15,000 to each of our chosen charities: Grenadier Guards Colonel’s Fund, SSAFA and Combat Stress.

Ingenious solutions

- climate smart fertiliser

Pawel Kieselewski CEO CCm Technologies Limited

Siloed thinking is exacerbating pollution and security crises

The UK is currently facing multiple crises; from gas prices and food insecurity, to river pollution. Every single river in England is polluted beyond legal limits and only 14% are in ‘good’ ecological health. Pollution incidents play a huge role in the damage being done and this is having a wider knock-on effect on multiple industries, including housebuilding, with “nutrient neutrality” guidance and planning moratoriums putting a pause on building new homes in watersensitive areas. A recent example is River Wye and Herefordshire County which reportedly lost £316 million in investment due to the ban, through lost jobs and spending from new residents.

Alongside the growing concerns related to pollution, the farming industry is facing fertiliser insecurity. The fertiliser industry in the UK is heavily reliant on imported natural gas, which has in recent months led to a rocket in the price of fertilisers and a rise in food prices. In March 2022 the price of fertiliser was reported to have reached £1,000 per tonne, more than three times higher than in 2020.

The cross-industry strain of river pollution and food insecurity cannot be ignored. But the good news is there are solutions available today that can help industries and Government deliver change across multiple sectors.

Circular economy technologies offer

Multi-faceted problems across sectors require joined up thinking. In addressing issues, like those caused by nutrient neutrality guidance, action is required to bring together house builders, water companies and regulators to explore ways of addressing pollution concerns in order to get housebuilding up and running again.

As mentioned earlier, the river pollution in Herefordshire and the River Wye has worsened significantly in recent years. However, it is promising to see steps in the right direction following the formation of a new cross-border group of agencies, local authorities and other key parties aiming to cut pollution in the Wye.

Such cross-body working and initiatives must be supported

by innovative circular economy solutions that are good for the planet and good for business, with wetland buffer zones a natural example.

However, another perhaps surprising part of the solution to these issues is a climate smart fertiliser produced in Swindon. CCm Technologies has developed a unique process that turns by-products from industrial and waste processing material into tailor-made sustainable fertilisers that reduce air and water pollution.

The fertiliser production technology harnesses four different waste streams, including concentrated ammonium from food waste and sewage water; carbon dioxide from the combustion of anaerobic digester biogas; and waste process heat and organic fibre from all

forms of anaerobic digestion, particularly treated sewage sludge.

Technology like this is able to support cross-sector businesses by providing them with a way of generating commercial value from captured carbon and agricultural/ industrial waste streams, while also delivering improved sustainability.

CCm has calculated that in excess of 60% of the phosphates currently discharged could be captured, stabilised and returned to the soil as sustainable fertiliser, rather than being at risk of run-off into the water system.

Application of the technology in the sewage sector extracts valuable nutrients such as phosphorous and ammonia from effluents, which are a major pollution risk when discharged into watercourses, and instead recycles them into biogenic

fertiliser products. This enhances nutrient retention (by up to 62%) and soil fertility, contributing to lower nitrogen and phosphate run-off and reduced water pollution.

Scaling up

Circular economy technologies are commercially competitive and readily available to support the farming industry by providing a domestically produced de-linked fertiliser that can also reduce the pollution of waterways. Corporate partnerships are emerging. Our own technology has been provided to amongst others, PepsiCo and Severn Trent, but the adoption of innovation like ours can and must be accelerated further.

The next step to ensure growth for these circular economy technologies is effective collaboration across industry, the private sector and policy makers to ensure incentives

are in place to process this waste and adopt new ways of working. The scale of the challenge means that where more resource and pollution sensitive options exist, they should be adopted. We can address crises with simple changes and restore our rivers to a healthier state, while also helping to address fertiliser insecurity.

Next steps

CCm Technologies has been engaging with the Government during the development of the new Environmental Land Management Scheme in an effort to ensure that new sustainable fertilisers qualify for the scheme. We’re keen to see farmers of all sizes rewarded for adopting innovative products which can tackle emissions and mitigate environmental challenges such as river pollution at the same time.

"We’re keen to see farmers of all sizes rewarded for adopting innovative products which can tackle emissions and mitigate environmental challenges such as river pollution at the same time."

Historic Houses - a changing landscape

The heritage of the UK is extremely precious and none more so than the historic houses that illustrate our national story so vividly over many centuries.

An organisation such as the National Trust takes care of no more than 500 or so and although many families still live in the houses of their forebears it is invariably a strain on their resources to maintain them for succeeding generations. Pressure can be particularly acute when there isn’t public access to provide an income stream or there is no one to live in them. Unfortunately, the responsibility of looking after a Grade 1 listed building does not go away.

One of the problems in a high inflation era, with its unavoidable impact on the cost of building materials, is the knock on effect that it has on insurance premiums. Higher reinstatement costs

obviously require sums insured to be increased also if they are going to be sufficient to meet a claim and enable the owner to comply with the requirement of the historic building bodies to restore a house to its original state.

The insurance market is unfortunately in a different place to where it was even a couple of years ago. The rising incidence of claims, whether it be from natural causes or those contrived by man, has meant that insurers have become increasingly selective as to what they will insure and the terms on which they will insure it. This has affected the insurance of the large historic house or castle where the reinstatement value

can easily be in excess of £100 million and the number of insurers prepared to insure them has shrunk dangerously low.

In the past some insurers have accepted the convention of insuring a house on a First Loss basis. The thinking went that if you had a building of massive construction that had stood for centuries that it was close to impossible that a fire could cause it to be a total loss. Therefore, a house with a total rebuilding value of £100m might just be insured for £50m on a First Loss basis. This meant that the total that would be paid out in the event of a claim would be limited to £50m but in exchange for this there would be a

discount on the premium. Not only have deteriorating loss ratios put paid to this but insurers are very wary of getting involved in an issue with the conservation bodies or local authorities if the sum available in the event of a claim proves insufficient to restore the property to its required state.

A second area of concern is where a house is unoccupied. When a house of modest proportions is left empty the terms of most insurance policies are well accepted and insurers will continue to provide cover if their conditions are observed. These normally relate to such things as heating being left on at a minimum temperature or water systems being drained, alarm systems being maintained and periodic inspections. Again, in the past insurers have been prepared to extend similar conditions to the historic house without increasing

"The insurance market is unfortunately in a different place to where it was even a couple of years ago. The rising incidence of claims, whether it be from natural causes or those contrived by man, has meant that insurers have become increasingly selective as to what they will insure and the terms on which they will insure it."

premiums but we are now seeing situations where they require much more money if they are prepared to offer insurance at all. In some circumstances it may be more cost effective to pay a housekeeper or maintenance staff to reside in the house if it can’t be let or lived in by a member of the family, but either way it is regrettably another increased cost that is having to be met by the owner.

Realistically, self-insurance is seldom an option for the owners or trustees of these significant houses, with the responsibility

to the nation and their own descendants invariably resting with them. It is a problem to which there isn’t an easy answer but it is better addressed in plenty of time prior to an insurance renewal rather than leaving it to the last minute. Inescapably, the insurance landscape has changed and the problem needs to be confronted rather than make the assumption that the status quo can necessarily be maintained. If all else fails and budgets do have to be increased, it is better to be prepared and have time to make a proper plan.

TO FIND OUT MORE, WHY NOT GET IN TOUCH:

Alec Moore amoore@weatherbyshamilton.co.uk 07503 671649

Hot summers

winners and losers

We have enjoyed a fantastic summer with a lot of dry, warm and sunny days. It peaked on Tuesday 19 July with the UK seeing its highest temperatures since records began. Great for holiday makers but for many farmers it has been a cause of huge stress, whether it be for those struggling to feed their stock and having to use up their winter feed, or arable farmers struggling to drill crops for 2023.

Spare a thought too for property owners. Unlike many other countries, our homes are not designed for either extreme or prolonged heat and an issue some may face is the increased risk of subsidence.

How does subsidence arise? Typically, it is because of the removal of underground water, destabilisation of earth structure and the drainage of organic material from within the soil. The foundations of a building become unstable and begin to show signs of movement which manifests itself through cracking or sinking. 2018 saw a huge surge in subsidence claims and unfortunately 2022 is looking as if it could be worse, with already some insurers reporting an increase of over 200% in claims reported between June and July. One hot summer shouldn’t be cause for alarm but as the summers become warmer on a more regular basis, then subsidence cases can only increase.

The most obvious sign of subsidence is cracking in walls, often next to a door or window, with the cracking wider at the top than the bottom and generally at least 3mm wide. Cracks may be seen on the inside as well as

the outside of the house and windows and doors may become misaligned and floors uneven.

Almost all buildings will have some cracking, with most nothing to worry about, but it is important to notice whether the crack has recently appeared, if it is spreading quickly, if there are trees or vegetation close by, or if it is developing in a diagonal pattern. It is important to take professional advice if you notice a large crack which has spread over a short time period.

What can you do to minimise damage caused by subsidence? The key is to take action immediately to avoid the problem getting worse over time. Water pipes and gutters should be checked to ensure no leakages which can soften the soil around your property. Trees, shrubs and vegetation close to your home can make the issue worse as they take water from the soil, drying it

out and exacerbating shrinkage. Willows, poplars, ash and oak trees are the worst offenders, all having long, fine root structures that soak up huge amounts of water each day.

Another consequence of the heat can be ‘summer branch drop’, where after a long period of hot weather and lack of rain, trees suddenly shed their branches due to being under severe stress. We had an incident this summer where a van was written off after an oak tree’s branches dropped onto its roof, thankfully with no serious injuries. Water stress is worse in large trees with overextended or elongated limbs, with the most vulnerable being beeches, oaks and horse chestnuts.

If you suspect subsidence or notice a new large crack that has spread quickly, it is sensible to contact your broker as soon as possible. Early intervention is so often the key.

TO FIND OUT MORE, WHY NOT GET IN TOUCH:

William Johnson

wjohnson@weatherbyshamilton.co.uk

Taking insurance seriously

Hopefully you already have a good working relationship with us but we would like to think that we can be thought of along the same lines as the other professional advisers you employ – though of course we don’t charge by the hour.

We are regulated by the Financial Conduct Authority and need to meet their stringent requirements in order to operate in the financial services sector, but what you may not know is that the Chartered Insurance Institute also works to continually improve standards in the industry. The Institute offers different levels of qualifications so that employees can demonstrate that they have attained a recognised level of knowledge and professionalism.

Weatherbys Hamilton encourages all its new recruits (and any other employee wishing to do so) to take advantage of this so that they can work their way up from being a Certified member (involving up to 200 hours of study followed by an exam), to Diploma level (up to 480 hours study and exam). Then for the committed follows Associateship or Fellowship, both of which require degree standard formal study combined with research and ongoing professional development.

We also have our own internal professional development

pathway where each member of staff undertakes at least 35 hours of development each year by way of study and testing, together with training on a multitude of subjects; from how to deal with claims for growing crops to advice from antiques experts on the current state of the market.

This is all well and good of course, but no substitute for being on the front line and our culture is to identify closely with what our clients need and to be part of the wider communities in which we operate. Richard Chugg, one of our two Joint CEOs, lives in Lambourn and is an integral part of the racing community, as are our partners and staff in Newmarket, the home of horseracing. Others; James Innes, Will Johnson and Charlie Denman to name a few, have been brought up on farms and estates and so have firsthand knowledge of all that’s involved. On the more esoteric, if you ever need advice on arranging cover for your stallion once he has retired from racing, then you need to look no further than Charles Hamilton, our Chairman, and one of the leading experts in this field.

We don’t expect you to share our enthusiasm for insurance but hopefully you will appreciate that we are very serious about what we do.

It pains us to admit it but not everyone is as interested in insurance as much as we are, or necessarily appreciates their insurance broker as much as we would like. Sadly, this is a fact and not some wild conspiracy theory found on the internet!

Jack Frost

We are delighted to welcome Jack Frost as a Partner in our Swindon office. Jack will play a key role in looking after the insurances of our farm, estate and private clients and is an important appointment as we maintain and enhance our leading position in these areas.

Jack was commissioned into the Grenadier Guards in 1992 and spent the next 16 years in various Command and Staff appointments. These included ceremonial duties at the Royal Palaces, which in 2001 included guarding Her Majesty The Queen Mother’s coffin whilst it was Lying in State; Aide to a General; two attachments to the RAF, including a tour in the Kosovo theatre of operations; and three tours of Northern Ireland.

On leaving the Army, Jack was Assistant Bursar at Sherborne Boys School; Bursar at

Rookwood School in Andover; and a Partner at Heaton & Partners, a property buying business which represented HNW clients searching for their dream home. Since 2017 Jack has been a Partner in the NFU Mutual’s Hungerford Branch where he specialised in the insurance of farms, estates and HNW private clients.

Jack has lived in Wiltshire since 2004, is married to Victoria and they have three children. Away from work he enjoys walking his Springer Spaniel, Yala, playing

and being on the family boat on the Thames.