Vehicle leasing firms 'being caught up in insurance regulation'

04 July 2011 at 16:54

Vehicle leasing firms 'being caught up in insurance regulation' The recent government changes to the regulations surrounding uninsured driving could be unintentionally affecting the vehicle leasing industry, it has been claimed.

According to the British Vehicle Renting and Leasing Association (BVRLA), its members are being caught up in the red tape coming from parliament's clampdown on the crime.

Legal and policy director Jay Parmar explained that the Continuous Insurance Enforcement regulations could impact the BVRLA's members, despite it being in their own best interests to ensure their vehicles are covered.

"They would want to be assured that the customer does have motor insurance in place," he said.

"Selfishly, they have to know that if that vehicle is going to be written off, someone's going to pay them £20,000 or whatever the value of the car is."

The Continuous Insurance Enforcement regulations have been brought in to help cut the number of uninsured drivers on the UK's roads and financial services firms selling car insurance might wish to use FSA compliance experts to explain how best to explain the situation to prospective customers.

Posted by Claire Robin ADNFCR-3006-ID-800610485-ADNFCR

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