AXA revamps Motor Trade Offering

by Gill Montia

Story link: AXA revamps Motor Trade Offering

AXA has overhauled its Motor Trade offering in a move aimed at expanding capability for both SMEs and the larger corporate market.

The insurer claims the enhanced cover should allow brokers to reach a range of trades operating within the vehicle service, sales and repair sectors.

Features include a wider choice of road risk options for vehicles, including semi-comprehensive cover and new-for-old vehicle replacement.

The third party property damage limit has increased to £10 million, while public and products liability of up to £5 million comes as standard.

Vehicle contents cover has been improved as have the limits for theft of keys; equipment breakdown and legal expenses cover have also been reviewed.

AXA’s managing director of commercial, Anthony Middle, comments: “We have a strong holding in the SME commercial market and re-designing the Motor Trade product will ensure that we maintain our competitive advantage and offer a variety of covers to suit our customers’ needs.”

In related news, AXA launched a new underwriting tool last week, for the assessment of flood, subsidence and terrorism risks.

The geo-coding system has been purpose built for the insurer by Mapflow, the location intelligence solution provider.

It should enable underwriters to accurately assess flood, subsidence and terrorism risks for individual buildings.