Groupama Insurances has launched an insurance product to cover the business use of privately-owned vehicles.
Called the Personal Car Plan (PCP), the product is the result of the trend in companies towards offering staff cash to buy their own cars, instead of the cars themselves.
It works by insuring employees' company-funded vehicles as a fleet. Groupama said this meant employees who own their cars could still benefit from the cover of a fleet policy, while employers could be confident their staff are adequately protected.
