Biba extends electric vehicle GAP scheme
The British Insurance Brokers’ Association has approved an extension to its exclusive GAP scheme with Jackson Lee Underwriting to include the recently launched electric vehicle early termination cover.
This extension is designed for Biba members seeking to protect companies supplying electric vehicles as part of a corporate salary scheme against the financial penalties of early redemption.
JLU’s exclusive Biba GAP scheme, which has been in place since 2012, covers most personal and commercial vehicles.
Biba detailed that the addition of this electric vehicle early termination extension will allow its members to offer protection for clients seeking to implement an EV salary sacrifice scheme
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