Protecting the vehicle rental sector from insurance risks

The BVRLA has written to the Chancellor of the Exchequer ahead of a planned vote being taken by the directors of the Motor Insurance Bureau (MIB) that will determine whether to support a “mutualisation” of risk across the motor insurance industry to cover claims arising from terrorist attacks involving motor vehicles.

The BVRLA has written to the Chancellor of the Exchequer ahead of a planned vote being taken by the directors of the Motor Insurance Bureau (MIB) that will determine whether to support a “mutualisation” of risk across the motor insurance industry to cover claims arising from terrorist attacks involving motor vehicles.

Without the agreed mutualisation, vehicle providers including rental companies could be made liable for personal injury claims resulting from terrorist attacks should their vehicles be used as a weapon. 

In addition to asking the Chancellor to support the proposed mutualisation, the BVRLA is asking rental members to contact their Members of Parliament, asking them to also lobby the Chancellor.

At present, over 40 MPs have been contacted, with many agreeing to contact the Chancellor asking him to support the case for mutualisation.

Members can find out more about the work of the BVRLA in this area by contacting BVRLA Senior Policy Advisor, Patrick Cusworth.

 

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