New member is positive development following AXA's exit

Chaucer has given a boost to the industry-wide agreement covering the use of credit hire vehicles by signing up as a member.

The General Terms of Agreement (GTA) had suffered a blow after AXA pulled out in September, deciding to settle fees and terms with credit hire operators.

Chaucer said it joined the GTA after viewing recent improvements as “very positive”. The GTA recently announced it would be appointing an independent chairman to arbitrate disputes.

Claims operations manager James Terry said: “Most protocols wouldn’t exist were it not for the GTA and, while governance of the GTA is still an issue for us, there has been recent improvements that we see as very positive and we are optimistic that further progress can be made as we move forward.”

AXA pulled out of the GTA, stating its desire to settle claims more efficiently and cost-effectively.

An ABI spokesman said of the GTA: “We believe that the market is better for it being there than not being there. We would welcome any company that can come into any agreement that can provide better service to customers and help insurers control costs.”

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