FMG News
New Act comes into effect
FMG now officially Farmers’ Mutual Group
On April 1 2008 FMG officially became Farmers’ Mutual Group. Signaling the completion of work on the Farmers’ Mutual Group Act passed last year, the change aligns the company’s legal name (formally Farmers’ Mutual Insurance Association) with that in common usage.
According to Chief Executive Gordon Smith, completing the implementation of the Act is a significant milestone for the company as it continues to focus on creating real benefits and improvements for new and existing customers.
”We now have the flexibility to ensure we can continue to keep pace with our customers’ needs, without dismantling our core principle – mutuality. While staying true to the spirit of the pioneering farmers who began our organisation, we will also be able to provide the level of accountability that our modern membership demands and deserves.”
FMG was previously governed by the Mutual Insurance Act 1955. Under the old Act, only customers who held active rural risk insurance policies could qualify as members. Under the new Farmers’ Mutual Group Act, a Member will continue to be a member so long as they remain a customer of FMG.
For more information, contact:
Jacqui van Roij
Brand & Communications Manager
027 664 7127
jacqui.vanroij@fmg.co.nz
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