Consumers oblivious to IPT, survey reveals

tax-cloud

A Consumer Intelligence survey commissioned by Insurance Post has shown that insurance premium tax is both poorly understood and unpopular, with only 30% of adults aware of its existence and 71% against the burden of the tax being passed on to consumers.

Insurance Premium Tax is currently paid on all general insurance products, and although the government’s IPT guide website describes it as a “tax on insurers”, firms can decide whether to pass on the

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FCA overwhelmed by feedback on naming and shaming

Emily Shepperd, chief operating officer of the Financial Conduct Authority, has said the regulator will “really take our time” when considering its proposed plans to name firms it is investigating before any decision has been made.

Biba follows ABI in addressing premium finance

Less than a month after the Association of British Insurers published guidance for members providing premium finance to customers, the British Insurance Brokers’ Association has followed suit.