Insurance Premium Tax (IPT)
Motor premiums in reverse as prices drop 5.5% in year
Car insurance premiums have dropped off 5.5% in the past 12 months.
Motor premiums climbed by over 10% in 2017
Premiums for all types of motor insurance increased in Q4 2017.
Motor premium growth slows despite Ogden fears
Motor premiums have risen at their slowest rate in 2017 for the first time in recent years, and declined 1.3% in the last quarter.
Post Power List 2018: Huw Evans
Director general, Association of British Insurers
Post Power List 2018: Steve White
CEO, British Insurance Brokers’ Association
Ecclesiastical urges Chancellor to make charities exempt from IPT
Ecclesiastical has backed the Charity Finance Group by urging the Chancellor, Philip Hammond, to make charities exempt from Insurance Premium Tax ahead of Wednesday’s budget announcement.
Jelf & Bluefin's Phil Barton on getting back to organic growth
Brokers must get back to their roots of being pillars in the community to achieve organic growth, says Phil Barton, group CEO at Jelf.
MP launches petition to freeze IPT rise
An MP has launched a petition urging the government not to raise the Insurance Premium Tax in next week’s budget.
ABI releases video urging no further IPT rises
The Association of British Insurers has launched a video urging the Chancellor not to increase Insurance Premium Tax in the November budget.
IPT rise would hit rural communities the hardest
Further increases in the rate of Insurance Premium Tax in the Chancellor’s forthcoming budget would hit farmers and rural communities disproportionately, NFU Mutual has warned.
IPT raising £4.8bn a year
Insurance Premium Tax is raising £4.8bn a year, or £179 per household, new research has found.
Ageas' Andy Watson's wish list for returning MPs
As goverment returns to business, Andy Watson, CEO of Ageas UK, reminds MPs that there are still three major areas of policy affecting insurance that need to be properly addressed before insurers can begin to control and then reduce customer premiums.
Analysis: Repair costs
The questionable practice of marking up at-fault repairs continues, despite resistance in some quarters. Will this status quo ever be challenged?
Motor premiums to rise while government delays Ogden consultation feedback
The Ministry of Justice’s decision to delay the Ogden consultation feedback may push motor premiums up.
IPT spurs fastest rise in home premiums in three years
Changes to insurance premium tax have spurred the fastest rise in home premiums in three years.
IPT petition shelved due to concerns over ‘longevity’ of government
An industry-led petition against Insurance Premium Tax increases has been postponed due to concerns over the “longevity” of the government.
Motor premiums see biggest spike ever following Ogden
Motor premiums have seen the biggest rise “ever recorded” owing to the government’s decision to raise Insurance Premium Tax and cut the discount rate.
Blog: Telematics should be a given
Telematics insurance has become much easier and cost-effective for brokers and insurers to offer, says Selim Cavanagh, vice-president, Insurance, at Lexis Nexis Risk Solutions UK & Ireland, arguing it should now be a given.
ABI calls on government to defuse 'discount rate bombshell'
The Association of British Insurers has called on the government to take action against motor claims costs as premiums reach record levels for almost all age groups.
Blog: Brokers need to cross-sell more
Brokers need to exploit cross-seeling opportunities to protect their business, writes Nick Mohan, joint managing director at Jackson Lee Underwriting, pointing to gap insurance and other niche covers.
Aviva's Rob Townend on removing 'easy money' from personal injury claims
Some are sounding the death knell of the personal injury reforms but Rob Townend, claims director at Aviva Insurance, explains why insurers must be alive to an increasingly aggressive claims management company industry.
Ogden change to cost industry £3.5bn
The change to the Ogden discount rate from 2.5% to negative 0.75% is predicted to cost the market £3.5bn across all lines of business.
Roundtable: Digital: Brokers - Surviving the digital age
At a time when regulation and taxes are weighing heavily on their operations, brokers find they have to adapt to the digital age. At a Post roundtable, in association with SSP, they discussed how they can leverage new technologies to better serve their…
Insurance Premium Tax rises to 12%
Insurance Premium Tax has today risen from 10% to 12% as outlined by Chancellor Philip Hammond in November.