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Saturday, 31 December 2016

The Motor Vehicles (Compulsory Insurance) Regulations 2016 (SI No. 2016/1193)

The Motor Vehicles (Compulsory Insurance) Regulations 2016 came into effect on 31 December 2016. They increase the minimum mandatory insurance cover for motor insurance policies in Great Britain relating to property to £1.2 million for any one accident, replacing the previous minimum which stood at £1 million. The minimum derives from the Motor Insurance Directive (Directive 2009/103/EC of the Euiropean Parliament and of the Council of 16th September 2009 relating to insurance against civil liability in respect of the use of motor vehicles, and the enforcement of the obligation to insure against such liability). Article 9(1) sets the minimum, and Article 9(2) provides for it to be index-linked and adjusted every five years, hence the present regulations.

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