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CGU Commercial Motor shifts gears

The new wording has some important changes – including more alignment with our Fleet wording in areas such as definitions and additional benefits, and more clarity around claim settlements following feedback from our Claims staff.

There have been some significant improvements in cover. Just some of the enhancements are outlined below:

  • Hire Vehicle following accident now included as an optional endorsement for sedans, station wagons and other vehicles with a carrying capacity up to 5 tonnes
  • Significant improvements to Additional Benefit covers and limits
  • Wording aligned closely with Fleet Motor with consistency in many definitions, additional benefits, and exclusions
  • Changes implemented to provide some clarity around common claim scenarios
  • Key Additional Benefits have been improved to allow for a wider range of vehicles and increased limits.

The new wording will apply to all new business and renewals with a cover effective date of 30 August 2014 onwards. However, as an additional benefit of the CGU policy, existing customers who make a claim on their current policy with a date of loss on or after 30 August 2014 will benefit from any improved coverage immediately

The only variation of our standard Commercial Motor wording (other than Strategic Partners) are for AIMS who have an Austbrokers / IBNA / IAA badged product based broadly on our standard wording with some minor benefit increases. This AIMS wording has also been updated and will be released at the same time as our standard CGU wording.

Additional support elements