Industry rates standard in danger of collapse following GTA hold up
Insurers and credit-hire organisations (CHOs) may be jeopardising the agreed industry standard on ra...
Insurers and credit-hire organisations (CHOs) may be jeopardising the agreed industry standard on rates, by stalling on revisions of the latest General Terms of Agreement (GTA).
The GTA was launched by the Association of British Insurers in 1999 in order to rein in the number of credit-hire claims being brought before the courts, and to negotiate the approval of rates that insurers were willing to pay.
Tony Baker of the Accident Management Association said: "All agree that the GTA is beneficial
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