Finance and fleet managers must be aware of the hidden dangers in the procurement of motor fleet insurance, according to insurance broker Jardine Lloyd Thompson (JLT).

Robert Ashley, regional director and motor broker of Jardine Lloyd Thompson corporate risks in Manchester, says “off the shelf” insurance programmes can have serious financial repercussions.

He says the actual broking of a fleet is only small part of the exercise. As with an iceberg, the major parts - programme design, projections and costings - often go unseen and are likely to cause the most financial damage if ignored.

“Without these vital processes your insurance may not be cost-effective, appropriate to your needs and, in the worst case, adequately cover you in the event of a claim. An effective insurance programme can help your business navigate the potentially treacherous financial waters”, he said.