BVRLA News August/September 2018

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August/September 2018

The bimonthly newsletter of the British Vehicle Rental & Leasing Association

MIB votes to mutualise terrorism insurance risk The BVRLA has welcomed the announcement from the Motor Insurance Bureau (MIB) that from the 1 January 2019, they will handle and pay the claims from victims involved in a terrorist event where a vehicle is used to kill or injure, removing the risk from individual insurers. More than 75% of motor insurers voted in agreement of the change, following a 28-day ballot which closed on 19 July. As a result, the relevant element within MIB’s Articles of Association has changed to bring claims arising from the use of a vehicle as part of an act of terrorism within the scope of the claims paid by the Bureau. BVRLA Chief Executive Gerry Keaney said: “Without this change, individual insurers would undoubtedly have started to remove themselves from our market, compromising the vehicle rental sector’s ability to continue to provide affordable insurance products

to consumers, and in the worst case, could have resulted in some rental operators going out of business.” The BVRLA has been lobbying on this issue since 2017, after a spate of terrorist attacks involving rental vehicles. The association was backed by Neil Coyle, MP for Bermondsey & Old Southwark, where the London Bridge terror attack took place in June 2017. Mr Coyle raised the issue in Parliament and explained to ministers the problem that businesses have in securing adequate insurance. He sought the government’s commitment to consider the issue and introduce changes to better protect the business community, including vehicle rental companies. The need to mutualise terrorism risk was one of five priorities outlined in the BVRLA report published in March that also called for:

› A compulsory new national accreditation scheme for vehicle rental companies › A set of new security measures that are developed in collaboration between law enforcement, policymakers and the vehicle rental sector › Proportionate and realistic policy measures that do not play into terrorists’ hands by causing undue disruption to businesses and individuals › Government to increase efforts to remove online content that is used to inspire and guide extremists on carrying out vehicle attacks The BVRLA will now work with the MIB as part of a working group and will represent the vehicle rental sector’s interests to ensure that it can continue to provide affordable insurance. u

YOUR ASSOCIATION In the media spotlight… Gerry’s note: Deal or no deal… Welcome to the BVRLA family A louder voice of influence Expanding our team 2018 Fleet Technology Congress

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SECURITY & INSIGHT RESEARCH Rental/leasing worth £49bn Latest Leasing Broker Research

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LEARNING & DEVELOPMENT Funders encourage e-Learning e-Learning for rental firms List of L&D opportunities

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SECURITY Scammers push bogus deals

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REGULATION & COMPLIANCE Ask Adam

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AIR QUALITY & EMISSIONS MPs back BVRLA Plug-in Pledge Government promotes Pledge

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BVRLA News August/September 2018 by BVRLA - Issuu