The UK’s RSA announced that it has renewed its contract to provide motor insurance to Motability Operations. “The new contract extends a long term relationship and provides a strong, sustainable partnership for RSA and Motability Operations,” said the bulletin.
The new agreement goes into effect as of the 1st of October 2013 for an initial five years. “The deal will be on a quota share arrangement with RSA retaining 20 percent of the premium exposure, ceding the balance to a Motability Operations owned captive. Insurance cover will continue to be provided for multi-year policies; however, under the new contract all policies will be re-priced every six months. Policies written under the current contract will remain in force for the duration of their three year contract.”
Jon Hancock, Commercial Managing Director at RSA, said: “We are proud to work in a partnership with Motability Operations and share their goal of providing trouble free motoring to all customers. Motability Operations is our largest commercial motor insurance partner and the largest fleet operator in the UK, and we look forward to continuing to deliver a first class service together.”
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