NFRN Mutual has been established for over 12 years, providing an alternative to insurance, offering cover and protection to newsagents and other retailers of news and magazines. NFRN is the National Federation of Retail Newsagents; the mutual is an associated company that is not owned by the NFRN, but solely by its members.

Mutual’s have been around for over a hundred years. Recently they have been a growing sector in the insurance world and there are an increasing number of groups choosing to manage their risk in this way, including doctors, farmers, universities and local authorities. A mutual is a risk pooling mechanism which is owned by and operated for the benefit of its members. A mutual company will usually be established to protect the interests of a particular industry or group whose businesses have activities in common. It is a company limited by guarantee i.e. the financial liability to mutual members is limited. In the case of NFRN Mutual this liability is limited to £1.00. The affairs of a mutual are run by a Board of Directors elected by the Membership. All of the Board are also members of the mutual.

The mutual and the cover offered have been specifically developed for the needs of news retailers. The mutual has a dedicated customer service and claims team. A member contacting the Member Service Centre will always speak to the same one or two people who will be familiar with their business and their claims and payment history. Buying shop or home cover with NFRN Mutual means pooling risk with other newsagents - not with different types of businesses with very different risks. NFRN Mutual is the only cover provider recommended by the National Federation of Retail Newsagents.

Who can join NFRN Mutual?

The NFRN Mutual Limited was established in 1999 to provide both commercial and household cover to members of the National Federation of Retail Newsagents. In its early years only NFRN members could join the mutual, but this has now been extended to include anyone retailing news. However, at the current time the mutual is not able to cover any agent operating from a petrol station.

NFRN Mutual pools the first £20,000 of each risk on a discretionary basis. Above this level the mutual purchases high level insurance with Ecclesiastical Insurance Office (EIO), with each member as a named insured. EIO also provides ground up cover and certificates for Employers’ Liability cover for each Member, which satisfies all regulatory requirements. This arrangement is structured in such a way that the mutual is guaranteed to make an underwriting surplus ,thereby safeguarding the member’s position , and ensuring that the mutual will always be there to support its members with the backing of an insurer of excellent financial strength and reputation.

We pride ourselves on offering a tailored quotation and personalised claims service with a small friendly team in our office in Kent. You can be assured that you will deal with our team directly, not an automated phone service. The team deal ONLY with shop owners like yourself so they understand your needs and are able to assist you with concerns over your cover to keep your business safe.

NFRN Mutual is a “not for profit” organisation. Contributions (rather than insurance premiums) are paid to the mutual by members. Out of the contribution the mutual pays for excess insurance costs, claims and operating costs. Any leftover surplus belongs to the members and is used for their benefit. The mutual is a ‘discretionary’ Mutual, rather than a conventional insurance company. Members’ claims are paid at the discretion of the Board of the Mutual from the Mutual’s funds. Insurance companies will usually provide insurance for a wide variety of risks. NFRN Mutual is specifically for newsagents - so members can be certain that they are only pooling risk with other news retailers.

Details of the scope of cover and claim conditions are provided to each Member in the form of a Cover Wording when they join the Mutual. The Board has discretion in the payment of claims and the Managers handle the claims administration, advising the Board as to whether a claim is covered and the amount payable. The Directors will exercise their discretion and only refuse a claim when they believe that members of the Mutual would expect them to do so. The Board have the power to pay claims that are specifically excluded under the cover wording should it be decided that the circumstances merit it.

The Board of Directors of The NFRN Mutual Limited currently comprises of eight people, who are all current or recently retired retail newsagents and Mutual members. The Directors are appointed for a three year term. The following directors currently sit on the NFRN Mutual Board:

• Peter Wagg (Chairman)
• Mahendra Jadeja (Vice Chairman)
• Alan Dryden
• Colin Finch
• John Rowlands
• Janet Wagg
• Adrian Watts
• Sam Whiteside

The mutual is managed by a professional firm of Mutual Managers, Regis Mutual Management Ltd, whose team has a proven track record and a reputation for innovation and success in the management of mutual’s in the UK and Australia. Other UK mutual’s managed by Regis include The Activities Industry Mutual, Marathon Mutual and The Livery Companies Mutual.

Call our Member Services Centre on 0800 066 4988 (free from a UK landline) for a quotation.