PI costs hit rural consultants
Agricultural consultants who carry out vital salinity testing and waste management for farmers are the latest professional group encountering difficulties in securing affordable professional indemnity cover. The Institute of Agricultural Science and Technology, which represents agricultural consultants, says members have been slugged with a 400% hike in insurance costs. It said many consultants are now uninsured and may not be able to carry out essential farm management tasks.
The institute says flow-on effects could see some consultants closing down and key environmental projects stalling because of rules requiring consultants to have insurance.