We’re making some wording changes in our policy documentation for our Motor products
In line with our continuous focus on the customer and to fulfil our Consumer Duty responsibilities we're making improvements to the wordings on some of our Specified Fleet and Minifleet documentation.
A recent assessment of our Motor Fleet (Specified Fleet and Minifleet) documentation and Minifleet mid-term adjustment journey has identified some areas we need to change to ensure we’re providing solutions for customers that are clear, fair and not misleading.
To provide consistency across our policy documentation, we’re harmonising the definition of Your Vehicle under point (1) in the policy wording. We’re also adding clarity that the vehicle exposures need to be agreed and accepted by us for cover to be attached.
The new additions to the wordings are highlighted below:
(1) belonging to you or hired, leased or lent to you which is described in the schedule or details of which have been supplied to and accepted by us and a certificate of motor insurance has been delivered to you and remains effective with the Description of Vehicles under point (a) on the motor certificate:
(a) Any Motor Vehicle belonging to the Policyholder or hired, leased or lent to the Policyholder which is described in the schedule or details of which have been supplied to and accepted by Aviva
We’re also adding clarity that the vehicle exposures need to be agreed and accepted by us for cover to be attached.
What does this mean for digitally traded business?
As part of these changes we'll be removing the 10-day transaction window from our mid-term adjustment journey in January 2024.
This functionality was built as part of our original proposition when online trading had low adoption. So the 10-day window was created to allow for any adjustments to be processed where a cover note had already been issued.
Fast Trade, online trading platform, is available 24/7 and is now used to effect immediate cover and obtain instant documentation.
Following the removal of the 10 day window you'll need to ensure mid-term adjustments are processed on or before the required effective date of cover.
What does this mean for Regionally traded business?
There are no impacts to how mid-term adjustments for Regionally traded business are handled today. These can still be processed by brokers online via the self-service portal and will continue to be effective from the date and time they're processed online or from the relevant future effective date. Referrals will continue to be picked up by our dedicated Underwriters within the hours of 9am to 5pm.
What does this mean for business traded out of hours?
Any referrals for digitally or regionally traded business triggered out of office hours will not be picked up until the next working day. Should the Customer require cover outside the 9am to 5pm window, you'll be required to issue a Cover note to ensure suitable cover is in place until an Aviva Underwriter picks up the referral on the next working day.
This will provide clarity to our customers meaning they can be confident in the cover Aviva are providing for them and how the cover operates.
What action do you need to take?
We’ll be introducing these improvements to our documents on 15 January 2024 for new business and 25 February 2024 for renewals on Minifleet.
For Specified Your Fleet policies we’ll be introducing the improvements on 19 November 2023 for new business and 17 February 2024 for renewals.
The Minifleet 10-day transaction window will be removed with effect from 15 January 2024. You'll need to ensure that mid-term adjustments are processed on or before the required effective date of cover.
Mid-term adjustment functionality is available to you 24 hours a day, 7 days a week for our Minifleet product and also for Your Fleet policies via Self-Serve on Aviva Broker. This empowers you to make any changes that your client may need, at any time.
Should you need to issue a cover note and don’t have an existing cover note book, you can order this via the Aviva Broker website. Once youʼve logged in head to the ʻResourcesʼ tab in the menu and under the ʻDocument and toolsʼ header select ʻDocument orderingʼ. On this page youʼll see a form where you need to fill in the Document Reference number. Simply type in BMOMG3868 along with the quantity you require.
This isn't a change in the cover levels we provide or the intention of our policy cover. It’s about providing our customers with greater clarity around how their cover operates.
We want to help to avoid issues with policy cover and claim indemnity, so we’ve collated some of the most common scenarios.