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Councils prepare for MMI collapse

1st October 1992, Page 8
1st October 1992
Page 8
Page 8, 1st October 1992 — Councils prepare for MMI collapse
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Which of the following most accurately describes the problem?

E As the future of troubled Municipal Mutual Insurance hung in the balance this week, local authorities were told to be ready to look elsewhere for quotes for their commercial vehicle insurance.

Around 85% of fleets run by councils are insured by MM!, which is struggling for survival. If talks with French group GMF fail MMI is expected to go into receivership or liquidation.

The Association of District Councils says: "The disaster scenario is that if it goes into liquidation, local authorities will have to go straight into the market for their insurance." The ADC believes most other insurance would be more expensive_ MMI says that the rising level of vehicle claims "has not helped matters".