Motor Insurance Industry News

MOTOR TRADE CERTIFICATE AMENDMENT
effective from 1st November 2008
In order to combat uninsured driving, the police were given powers to seize and destroy vehicles being driven without adequate insurance arrangements. There is evidence from the police, however, that motor trade insurance policies are being used inappropriately to recover seized uninsured vehicles.

Allianz has been part of discussions led by the ABI to achieve an industry-wide consensus to prevent this abuse.

Wording Amendment

It has been agreed that the following additional line will be added to the Limitations as to Use section of the motor trade Certificate of Motor Insurance:

Excluding use to secure the release of any motor vehicle which has been seized by or on behalf of any government or public authority which was not the property of the Policyholder or in his custody or control at the time of seizure.

This change will not disadvantage customers who need to provide proof of insurance in order to release a vehicle seized by the police provided the vehicle is owned by the Policyholder or in their custody or control at the time of the seizure.

All motor trade policies incepted or renewed from the 1st November will benefit from the new certificate wording.

For more Information

All policyholders should contact their broker for further information on the amendments.  For brokers, please contact your local Allianz Commercial office.