Insurer launches 'road rage' add-on.
Groupama has launched a personal accident (PA) add-on product that aims to tackle motorists’ concerns about road rage assaults.
The insurer claims its PA add-on will help brokers maximise the development potential of their car insurance portfolios.
The product has been made available to brokers writing larger volumes of private motor business and aims to complement private car policies.
Lynn Harris, head of customer proposition at Groupama, said: “It’s a win- win proposition. Brokers tell us levels of take-up can be very good because customers value the extra cover.
“The PA product sells successfully with new business and it works well at renewal stage where it can be helpful as a tool to hold on to hard-won customers.”
Groupama’s private motor PA add-on automatically includes an extension for road rage assaults and has three tiers of cover.
Harris added: “Research shows that road rage is an increasing worry for motorists and, sadly, it is something they seem to experience more and more regularly.
“The consequences of an assault, or of a motor accident, can be devastating and this add-on cover offers real financial protection for policyholders that can be a great support when day-to-day life is interrupted.
“Although standard motor policies do provide some personal accident cover, it is usually limited. We think the increased cover on offer from Groupama is particularly relevant for today’s motorist and can provide financial help when it is needed most.”
Motor insurers have been criticised by a legal consultancy for the number of outstanding county court judgments against them for non-payment of suppliers.
Retail Motor Law (RML)?conducted a credit check on the largest companies to determine which had the worst payment record.
RML director Andrew Moody said: “You expect a couple, but one had 99 and two had more than 130.”
County court judgments are filed when a party feels they are owed money by another party. But the insurers, which have not been named, claim the issue is far from simple. They said they were transparent in the way they reported payments to suppliers.