EC non-manufacturer parts bon could hit insurance premiums hard
20th May 1993, Page 13
20th May 1993
Page 13
Page 13, 20th May 1993
— EC non-manufacturer parts bon could hit insurance premiums hard
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• Insurance premiums could soar if European plans to ban independently produced lorry parts are introduced. The warning comes from the Association of British Insurers, which believes that using proprietary spares can keep the cost of repairs down.
The EC's plans would mean only parts made by the original vehicle manufacturer could be used in repairs. "This is a problem with all vehicles. It would mean tlifat vehicle manufacturers have a virtual monopoly over the spares market and that would inevitably lead to a rise in repair costs and insurance premiums" says an AB1 spokesman.
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Association of British Insurers