Governance

Find out about some of the ways we are ensuring that our business is governed responsibly:

Supporting customers with additional needs

NFU Mutual is committed to ensuring that our products and services are accessible to all our members, so that everyone can do business with us without difficulty.

This includes making sure key documents are available in additional formats on request, including electronic pdf files, large print, braille and audio versions. As part of its commitment to making its website accessible to everyone, NFU Mutual has also designed key web pages to comply with WebAim guidelines.

In addition, 2022 saw us deliver guidance to our customer-facing teams on the Relay UK service operated by BT. This service helps those who are hard of hearing, deaf or speech impaired to communicate over the phone. Portable Hearing Loops are also available in many of our agency offices, which can considerably reduce background noise and distortions for our hard of hearing or deaf customers.

This initiative is just one of the ways we work to ensure we have the right support in place for our customers with additional needs. Agents and NFU Mutual staff will be happy to discuss your individual requirements with you. Agents can arrange a face-to-face discussion if that would suit you better.

Executive remuneration

NFU Mutual's remuneration policies are designed to attract and retain the best management talent needed to help ensure the business is run successfully. The annual and long-term incentives help to align the total remuneration package directly to the performance delivered for our members and other stakeholders. NFU Mutual’s incentive schemes incorporate a wide range of financial and non-financial measures, which are affiliated to the company’s long-term business strategy and these schemes enable all staff to share in the success of the company.

For full detail on NFU Mutual’s 2022 executive remuneration figures:

View our Reports and Accounts

Board diversity

NFU Mutual’s Nomination Committee and Board of Directors are committed to ensuring that together, the Directors possess the correct diversity of skills, experience, knowledge and perspectives to support the long-term success of the business. The Board Diversity Policy recognises that diversity increases the breadth and quality of debate, improving the overall effectiveness of decision-making and providing better protection for members.

For full detail on NFU Mutual’s Board Diversity Policy:

View our Reports and Accounts

Anti-bribery and corruption

NFU Mutual is committed to conducting business in an honest and ethical manner. We have a zero-tolerance approach to financial crime, including bribery and corruption, and will take appropriate action where this is either suspected or identified. Each year, our Anti-Bribery and Corruption Policy is reviewed to set out key requirements for NFU Mutual, our employees and the Agency network. Along with supporting documents and mandatory e-learning, this helps prevent bribery and corruption occurring, either deliberately or unintentionally.

Tax strategy and transparency

NFU Mutual recognises its responsibilities to its policyholders and society to pay the right amount of tax. Our tax strategy reflects our strong risk management culture and core values as a Mutual organisation. The Group’s 2022 total tax contribution was £348m (2021 £386m).

We are committed to paying the right amount of tax across the entire Group. This means complying with tax legislation and meeting our responsibility to provide value for our policyholders, while seeking to safeguard NFU Mutual’s reputation with the public, HMRC, our employees and our policyholders.

We are committed to engaging professionally with HMRC in matters concerning any current, future or past tax risks. If clarification is required in the application of tax legislation, we will seek to raise this with HMRC and work with them to reach an agreement before tax returns are submitted. We seek to maintain our “low risk” rating within HMRC’s new business risk rating programme, and to deliver accurate and timely tax returns, including relevant additional information to aid HMRC’s understanding of our business transactions.

Data protection and privacy

We collect personal information for a number of reasons: to offer our customers the right product, create and administer policies, provide insurance quotes, handle claims, protect against fraud, improve our products and services, and share information about other products that may be of interest.

We work hard to keep the data we collect safe. We use an appropriate combination of technical and organisational measures to ensure the confidentiality, integrity and availability of information at all times.