Understanding the challenges of written-off vehicles: implications for car owners and insurers The fast-paced automotive industry is currently facing a troubling issue. The issue involves a growing number of vehicles that insurers write off due to delays in parts supply, causing frustration among car owners and uncertainty in the insurance industry. This article aims to…
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Category: Motor Trade
Motor Trade Underinsurance
Motor trade underinsurance Underinsurance is a common problem in the motor trade industry, where businesses often struggle to obtain adequate coverage for their vehicles, equipment, and premises. Underinsurance occurs when a business fails to insure its assets for their full value. As a result, this can leave the business exposed to significant financial losses in…
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Why all businesses require Directors and Officers insurance
Why all businesses require Directors and Officers insurance Directors and Officers liability insurance (D&O insurance) provides financial support and defence against potential investigations into the behaviour of your executives and the possibility of them being sued. Without such insurance, the company will be left to pick up the tab from their own resources. Or,…
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Guide to Motor Claims Inflation
Guide to motor claims inflation In this issue: - Executive summary - Pandemic impact - Brexit - War in Ukraine - Technological advancement - What about injury claims? - It’s not all bad news - What’s AXA doing to help? - Vehicle damage claims - Injury claims Download the motor claims guide Here. There are…
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Electric Cars and What to Consider
Electric Cars and What to Consider... The ban on new petrol and diesel cars is fast-approaching, with the cut-off date of 2030 looming on the horizon, and the number of electric cars on the road is rapidly increasing, accounting for 11.6% of UK new car sales in 2021. Yet, many are still hesitant to opt for electric vehicles for…
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Ascend Broking Summer Newsletter 2022
Ascend Broking Summer Newsletter 2022 Welcome to our summer newsletter. This month I would like to raise 2 key exposures to your business – underinsurance and your personal negligence exposure. Underinsurance - why inflation can have a major impact on your insurance A not-so-well understood risk is the impact of inflation on insurance and the…
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“35% are opting for EV as their next car purchase. Are you tempted yet?
A new study has found that a third of people (35%) are likely to choose an electric vehicle for their next vehicle purchase as a result of the recent fuel crisis. Based on the findings of the survey, Volkswagen Financial Services UK reported that the number of used electric vehicles it finances increased by 76…
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Motor dealers: are you EV ready?
Motor dealers: are you EV ready? The interest in electric vehicles is now increasing as automakers strive to meet the governments goal of net zero emissions by 2050. This month, the National Franchised Dealers Association (NFDA) revealed that over 200 dealers have been accredited under its Electric Vehicle Approved (EVA) programme, which has been reopened.…
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Disruption in supply chains for Motor Trade
Motor Trade supply disruption Ever since the COVID-19 outbreak, supply chains have faced major disruptions in the automotive industry. Several manufacturing companies have had to modify their approaches as a result of the impact of the pandemic on the supply and demand from customers, businesses, suppliers and governments. According to a recent survey conducted by…
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Motor Trade business continuity: 3 tips to combat change
Motor Trade business continuity: 3 tips to combat change Managing a diverse and agile supplier network is now a top priority in the auto industry and essential to remaining competitive. No matter if shifting to the production of electric vehicles, dealing with the current semiconductor shortage or mitigating everyday disruptions, the automotive OEM and aftermarket…
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