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Insurers removing two-week grace
Posted :15-12-2004
Motor insurers are making changes to their insurance policies to comply with European Union (EU) regulations.
Motorists currently have a two-week grace in which to renew their policy at the end of their old insurance expiring. Norwich Union is removing this from its policies to meet the new directive.
The regulations are designed to clamp down on uninsured drivers, with police suggesting that up to five million UK motorists drive without insurance.
"Getting these vehicles off the road will improve road safety for everyone and reduce the nuisance people experience when they try to make a claim off someone who turns out to be uninsured," said David Jamieson, the road safety minister.
From Januray, 95 per cent of motor insurance records must be submitted to the Motor Insurers' Database (MID) within 14 days of changes being made to a policy.
 © DeHavilland Information Services plc The views expressed within the article are entirely those of Adfero Ltd and are not those of BDML Connect Ltd
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