Released on: December 5, 2007, 12:48 am

Press Release Author: Alexandra Lewis

Industry:

Press Release Summary: An award winning English vineyard has inspired leading
insurance broker Aon to launch a unique product to protect the British grape.

Press Release Body: An award winning English vineyard has inspired leading insurance
broker Aon to launch a unique product to protect the British grape.

One of 350 vineyards in the UK, Nyetimber shot to fame when its Classic Cuvee 1998
won the best sparkling wine outside of Champagne accolade at the 2006 International
Wine and Spirit competition, for the second time, and English Wine Producer of the
Year at the same competition. The thriving West Sussex business has since set a goal
to increase its output from 70,000 to 500,000 bottles in six years, thus needing to
protect its key asset - the grape - throughout its lifecycle and until the wine
arrives safely with its customers. This provoked Aon to work with the vineyard to
create an insurance product which would protect the grape from vine to wine.

Global warming and the fact that southern English soil is similar to that in
Champagne has helped to grow critics' recognition of the increasingly popular
homegrown wine. However, commercial success boils down to the state of the grape,
which could be affected by risks ranging from contamination from an aircraft crop
sprayer to damage from windstorms and hail.

Considering the lifecycle of the grape, the health of each vine is crucial to the
vineyard's expected revenue from producing quality sparkling wine: it takes three
years for the grape to mature before it is harvested and then another four years for
the wine to age. Therefore, wine growers need to put a figure on the cost of any
interruption to their process. This way, the insurer pays for the vines to be
replanted as well as covering the sale price of the wine which the damaged vines
would have produced.

Aon's unique insurance policy for English wine growers, which includes the first
product on the market for contamination by an aircraft sprayer, covers:

* vine - aircraft damage including contamination from a crop sprayer, fire,
lightning, explosion, malicious damage and hail;
* storage - including cover against theft - highlighting the need to carry out
regular valuations;
* distribution - within and beyond the UK, as per a standard cargo policy;
* duty - covered if, for example, a crate of wine smashes before it is sold yet
tax is still expected.

Gill Bewes, UK broking manager for Aon's marine unit, said: "As the English wine
industry flourished during a favourably warm summer, we began to investigate the
risks that vineyards face as their business develops. Nyetimber's team was
motivational in terms of identifying the day-to-day challenges of their business and
managing to pinpoint how much a burnt vine or cargo theft could affect their bottom
line. By gaining this insight into vineyards, we were able to negotiate a unique
insurance policy to protect their assets and in turn help other UK wine growers."

Eric Heerema, CEO at Nyetimber, added: "We are delighted to have worked with Aon
developing this new initiative, given the long term investment we are making in
vines, equipment and buildings to maintain, improve and develop the quality of
Nyetimber."entertainment
and media liability insurance

Notes to editor:

According to the English Wine Producers Association, the number of vineyards in the
UK grew from 281 in 1984 to 350 in 2005.

Aon UK is ranked by A.M. Best as the number one global insurance brokerage based on
brokerage revenues and voted best insurance intermediary, offering classic car
insurance, high value home insurance, entertainment
and media insurance and construction site insurance.


Web Site:
http://www.commercialservices.aon.co.uk/commercialservices/microsites/entertainment/


Contact Details: directory@vandelay.co.uk