MCIA today (23rd Feb) welcomed the Government’s decision to reject the Motor Insurance directive (also known as Vnuk). After identifying what would have been an enormous issue for policyholders across all vehicle segments, and the motor sport industry, MCIA formed a cohesive and co-ordinated lobbying group. Combined pressure from MCIA, the Motorsport Industry Association (MIA), AutoCycle Union (ACU) and the Amateur Motorcyclists Association (AMCA) has successfully ensured the Government will not be implementing the Motor Insurance Directive.
Had the Vnuk law been enforced, this would have meant compulsory insurance policies on a wide range of vehicles outside of traditional transport solutions. Golf buggies, mobility scooters, quad bikes and even ride on lawnmowers would have fallen victim to the proposed legislation, affecting many insurance policies for GB residents.
Bypassing Vnuk will also protect the existence of the UK’s world-leading motorsports industry, which could have been decimated due to the additional insurance costs. Scrapping the rules will save the industry from potential collapse and secure hundreds of thousands of jobs in the sector in the process.
Today’s announcement ensures vehicle policy holders will not be subject to an estimated £50 a year increase in motor insurance costs and helps to secure the future of motor sport events, which may no longer have been viable under the proposal. This provides all lobbying parties, the wider industry and motor sport enthusiasts with a successful and final conclusion.
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