The Stable system is the
brainchild of farmer’s son
Richard Counsell
to calculate premiums and claims payable. Businesses can get a free quote in two minutes by answer- ing just three questions: How much to protect, for how long and from what price?
Because the system uses an in- dex price for any payouts, claims are paid automatically, keeping costs low and eliminating paper- work for farmers.
Stable team works towards the eventual goal of enabling farm- ers to protect their gross margins – including wheat less fertiliser costs, or milk less feed costs. “Price volatility is a major risk
to producers, but until now fi nan- cial tools to deal with price risk have been designed for fi nanciers, not farmers,” says Mr Counsell.
“I wanted to start again with a blank sheet of paper, and over the past three years we have worked with three universities and over 300 farmers to create a solution which is not only affordable and low-risk, but also as simple as in- suring your car.”
The UK platform utilises in- dexes from Defra and the AHDB
Familiar partners Stable is sold through partners that farmers already work with, such as insurers, cooperatives, in- dustry suppliers and member- ship organisations. The company is registered with the Financial Conduct Authority and all poli- cies are underwritten by under- writers at Lloyd’s of London. “As an industry, volatile prices and costs are one of our biggest risks,” says Mr Counsell. “Meet- ing thousands of farmers during my Nuffi eld scholarship helped me understand the need to build a simple solution that was avail- able to farmers of every size and every sector.”
How Stable works
In September 2017, an ara- ble farm looked at the option of locking into a futures price for winter wheat of £146.90/t for September 2018 collection. Rather than doing this, it insured the grain for a month (September 2018) with Stable, setting a fl oor price of £146.90/t in the policy.
This meant at harvest 2018, the farmer was able to take ad- vantage of an improved wheat price, selling 250t of wheat for £181.70/t.
The insurance cost £9.76/t,
but gave the farmer fl exibility to take advantage of a £35/t uplift in the grain price without the risk of losing out if forced to sell at less than £146.90/t. Hypothetical case study pro-
vided by Stable. Further exam- ples are available at
www.sta-
bleprice.com
• Steel portal framed buildings • Grain drying and storage • Groundworks and drainage • Electrical engineering works • Elevator/conveyor repairs
Steel Portal Framed Buildings
Grain Drying and Storage Ground works and Drainage
Electrical Engineering Works
Royston Depot Tel : 01763 242361
Cambs depot 01954 210 355 Mob: 07885 202 005 Hardwick, Cambs CB23 7QL
JUNE 2019 • ANGLIA FARMER 35
ient
Mark tle cale Date
Weatherhead E Mail :
sales@markweatherhead.co.uk
_________________ Tel
: 01954210355
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