A topic of concern at the moment for the European Motor Insurance industry is the future of UK businesses facing the prospect of having to buy motor insurance with unlimited cover for all vehicles. Even those such as fork lift trucks, diggers and bulldozers that may never leave premises. The annual cost is estimated at up to £2bn.
In 2017 the European Commission carried out a review (known as REFIT) of the relevant Directive in light of Vnuk and other cases. In May 2018 it published plans to amend the Directive to codify this wide view of motor insurance in a new law.
Director of public policy & government affairs, Alastair Kinley reviews the implications for risk managers and how, if at all, it is connected with the wider Brexit debate for Airmic news.
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