Insurance Premium Tax (IPT)
LV boss O'Roarke backs broker channel for profit in 2016
John O’Roarke slams potential rise in IPT as “outrageous”.
AA warns of IPT hike in Osborne's Budget
Broker believes Insurance Premium Tax could go up again in less than six months in “double-whammy con on drivers”.
In-depth: Keeping it personal
The highly competitive personal lines space is no stranger to change. With further developments in technology and regulation, we examine the issues brokers and insurers are facing and what the opportunities are
Home premiums up for the first time since 2011
AA Index states IPT hike led to small rate increases in the last quarter of 2015.
Car insurance premiums see biggest annual rise since 2011
Research cites higher repair costs and IPT rise.
Car insurance rates accelerating as IPT rise kicks in
Average best buy premiums increase 10.9% in the year to 30 November, according to market researchers.
IPT errors could reduce underwriting profits by 15%
FiscalReps predicts that errors in insurance premium tax could cause “significant drop in underwriting profits”.
IPT to blow home premiums “off course”
Analysis says IPT will boost premiums but customers will look to switch with a third threatening to cancel policies.
ABI 2015: Government recognises challenges of IPT rise
David Gauke MP also mentions innovation and adapting to technology as key steps going forward.
IPT rise to cost young drivers and Londoners most, says AA
Broker warns tax increase could encourage young drivers to drive without cover.
ABI: IPT increase will add £100 a year for some families
ABI says further increases must be avoided if insurance is to be accessible for all.
ABI urges clampdown on CMCs ahead of IPT rise
Association says motor premiums continue to rise and action is needed to tackle "unscrupulous" claims management companies.
IPT hike causes technological headache
Insurers and software houses take differing approaches to implementing IPT increase
Una survey finds upcoming IPT hike already hitting buying patterns
Research also reveals almost half of consumers remain unaware of November’s tax rise.
Surprise hike in IPT sparks concern
Industry reacts to George Osborne’s Budget announcement to increase Insurance Premium Tax
Shock IPT rise leaves industry concerned
Experts warn increased Insurance Premium Tax will drive consumers from buying insurance.
Biba “extremely disappointed” at IPT rise to 9.5%
Trade association’s Graeme Trudgill says increase “makes mockery” of insurance growth plan.
Biba urges Chancellor not to raise IPT in the Budget
The British Insurance Brokers’ Association (Biba) has called on the Chancellor not to raise Insurance Premium Tax (IPT) above its current level of 6% in the upcoming Budget on 21 March.
Insurers' tax contribution greater than entire Home Office budget
The insurance industry made a total contribution of £10.4bn to the Exchequer a report from the Association of British Insurers (ABI) and PWC has revealed.
Health news: MCD trust fund scheme offers brokers alternative route into PMI
Medical Care Direct (MCD), part of the Skipton Group, has launched a scheme which offers brokers an alternative path into the private medial insurance (PMI) sector.
Power hour: A flood defence drought
The coalition has already announced that flood defence spending is to be cut. With the Statement of Principles due to run out in 2013 this month's discussion focuses on the possible impact for insurance. Emmanuel Kenning reports from Manchester.
Industry voices worries over VAT rise
Following the rise in the rate of Value Added Tax (VAT) and insurance premium tax (IPT) Peter Hayman, director at travel insurance specialist P J Hayman, has called for the standardisation of tax across all forms of insurance.
2010 review: A year of living cautiously
The economy grew, rival political parties unexpectedly started working together and personal lines rates even hardened, although plenty of surprises and setbacks meant that 2010 was far from plain sailing, writes Andrew Tjaardstra.
Slow insurer processing could mean a backlog of IPT charges
Brokers could be left to foot the bill if insurers choose to apply the Insurance Premium Tax (IPT) increase from the date it hits their books, according to the British Insurance Brokers' Association (Biba).