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A CALL TO ACTION!
THE MAG CAMPAIGN FOR FAIRNESS AND TRANSPARENCY IN MOTOR INSURANCE
Dear Fellow Motorcyclists,
You may by now know that my article on insurance published in the February/March edition of StreetBiker has been picked up and supported by MCN. The ammunition for the campaign has been accumulated through riders’ responses to MAG's UK Theft and Insurance surveys, with co-operation from NABD, the National Association for Bikers with a Disability.
A big thank-you goes to those of you who responded to our surveys. These have provided much of the basic information that we needed to put a realistic campaign together.
If we now act together, promptly, we can bring about a massive change for the better in bike insurance. We MUST strike while the iron is hot. Our argument is simple. We demand transparency. Specifically, we want:
- Disclosure by insurance companies of the estimated profit margin on each individual motor insurance policy at the time the quotation is given, in manner that conveys a fair and understandable picture to the would-be policyholder.
- Disclosure of commissions by motor insurance brokers at the time a quotation is given.
- Insurers to be compelled by law to publicly disclose premium income and claim expenses showing separately expenses for:
- Third-party personal injury claims
- Third-party property damage claims
- Own vehicle damage claims
- Theft claims
- Amounts paid in legal fees and related expenses, court costs etc.
- Insurers internal administration costs
- Insurers to be compelled by law to offer Third Party Only cover, theft cover, and own-bike damage cover as separate items.
Motor insurance is compulsory. If you don’t buy it then you can’t drive. If you do drive without insurance you can be fined, have your license endorsed, be banned from driving or even imprisoned. Given the element of compulsion the Government has a duty to its citizens to regulate the profits of insurers. The most efficient means of regulation is a regime of enforced transparency, policed by government regulation, so you the consumer can make an informed choice when you buy a policy.
PLAY YOUR PART – ACTION WE NEED BY YOU!
· Write to your MP. DO IT TODAY!
· To find your MP check the House of Commons Website
· Wrap a letter of your own around the points above and ask him/her to support our campaign.
· Ask your MP to demand government-sponsored legislation for better regulation of motor insurance along the lines described above.
Standard letters get ignored. Every letter needs to be personal for maximum impact. However, to give you an idea, a copy follows of a letter I am sending to my own MP.
All biker-MPs are being asked to support our campaign and MAG lobbyists will be campaigning at every level.
To succeed though we need the support of tens of thousands of ordinary motorcyclists.
This then is a call to action. Play your part and together we can bring about a fair and transparent insurance market. Please copy your letters to MAG, so we know which MPs have been contacted.
Neil F. Liversidge,
Director
Download full action document in pdf format Here (includes Draft example letter to MP)
Issued by
Trevor Baird
Director Of Public Affairs
The UK's Leading Riders' Rights Organisation
www.mag-uk.org
Use may be freely made without prior permission on condition that any material used is credited to 'MAG UK'.
If used on a web page an appropriate link to www.mag-uk.org should be given.
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