In today’s environment, the car is becoming more of a “must have” rather than a “luxury” and following an accident, it is reassuring to know that your insurance provider offers a replacement vehicle.
One of the UK’s prinicipal providers of replacement cars in such events is Helphire Group plc.
Helphire is one of the UK’s leading providers of motor accident management services including vehicle replacement and repair management, full claims handling assistance, uninsured loss recovery and personal injury management.
Insurers are now watching Helphire very closely following recently posted £59.3 million pre-tax losses for the second half of 2008. This was not good news considering they posted a pre-tax profit of £19.4 million for the same period in 2007, showing yet again how the economy is affecting everyone at the moment.
Most of their replacement vehicle services are provided on credit to motorists who were involved in non-fault accidents and whilst Helphire are obviously planning to restructure their banking arrangements and look to raise more operating capital through a share issue, insurers have been warned that the Bath based company is going to start pursuing recovery of their costs more vigorously from insurers by increasing their litigation activities.
Helphire also work closely with insurers to provide those all too valuable replacement vehicles which many insurance companies now offer their comprehensive car insurance policyholders.
Helphire operate through a network of six call centre sites and 30 branch locations. ir recent announcement firm closely.
Last month Helphire revealed plans to axe 130 of its 1,100 jobs
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