Typical insurance policies can be poorly suited for members of the Armed Forces, but the British Insurance Brokers Association (BIBA) has identified some simple ways their members can offer more flexible policies, with many brokers already signing up to offer better service.
The measures are meant to be both straightforward and helpful. Cancellation fees will be waived and a pro-rata rebate will be provided when a member of the Armed Forces community is posted overseas. No claims discounts accrued by a member will also be frozen for up to three years.
BIBA is also ‘signposting’ appropriate brokers that specialise in cover for military personnel.
Executive Director at BIBA Graeme Trudgill said the organisation is delighted at the new flexibility the industry is offering.
“It is particularly pleasing… to be able to announce that insurance brokers are providing a solution that will make a difference to the members of our Services,” he said.
Defence Secretary Michael Fallon also praised the new measures.
“When our Armed Forces are posted overseas to protect our country they can lose out from the discounts the rest of us take for granted,” Fallon said. “This is a welcome move from the leading insurers to help them get a fair deal.”
Keith Frampton of BIBA member Forces Insurance Limited also said that there are a number of other measures brokers are already taking to help Armed Forces members, including ‘laid up’ motor cover when personnel are on deployment; full motor or home cover when ‘on base’; business driving use to enable personnel to visit more than one military base for duty purposes; and providing cover when personnel are based overseas.
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