Bespoke company insurance launched for salary sacrifice schemes
The insurance giant has developed the policy, modelled on its Fleetwise commercial insurance product for corporate fleets, in response to the growing number of companies opting for tax-efficient salary sacrifice schemes as a way of rewarding staff.
Aviva can now provide a block insurance package to companies operating such schemes, with no limit on the number of vehicles covered by the policy.
The product has been developed following feedback from firms involved in salary sacrifice, including leasing companies, brokers and businesses themselves.
Mark Keavney, development manager – commercial product development at Aviva, said: 'Aviva has conducted extensive research to understand the requirements of businesses for a successful salary sacrifice car scheme to be implemented. We have developed a dedicated insurance product we believe is unlike any on the market. Although flexible for any size or type of business, the scheme is likely to be most attractive for companies with large fleets, whether FTSE-listed, privately-owned or local authorities.'