Biba 2017: “Storm clouds” gathering for insurance sector
Biba CEO warns brokers to be wary of current turmoil affecting the sector.
At his opening address to the British Insurance Brokers’ Association (Biba) Conference 2017 in Manchester, Steve White, Biba CEO has urged brokers to be wary of political and economic storm clouds on the horizon.
According to White the conditions causing most concern domestically include:
The doubling of Insurance Premium Tax (IPT) in only 18 months and the threat of more increases to come The changes to Ogden discount rate for calculating catastrophic injury damages Increasing inflationOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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