Insurance Premium Tax (IPT)
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.
IPT rise pushes home premiums up despite lower winter claims
Insurance Premium Tax increases have led to a rise in home insurance premiums despite claims over the winter period being lower than in previous years.
Motor Report: What's driving motor?
With trials of driverless car fleets now occupying our national roads, the motor sector is getting an upgrade like never before. As fraudulent claims continue to accelerate and while premiums pay the price, new entrants are causing insurers to tighten…
Blog: Brokers needn't fear FCA commission reforms
If the Financial Conduct Authority restricted gross rate commissions on finance arrangements, brokers could feel a painful blow. However, they could claw back income elsewhere, argues Ravi Takhar, CEO of Bexhill UK, urging them to bring the premium…
Editor's comment: Surprise!
I probably wouldn’t make a very good insurer or broker as I love a good surprise and I deal quite well with change.
Motor premiums set to rise by 29% by 2018
Motor premiums will rise by up to 29% by January 2018 due to hikes to Insurance Premium Tax, increasing repair costs and the EU's Vnuk ruling.
Motor premiums have gone up by 9.4% and are set to keep rising
Car insurance has rocketed by 9.4% to an average of £661 and this is set to increase due to the decision to lower the discount rate.
AA profits hit by greater aggregator spend
AA saw profits dip by 2.6% last year due to a higher marketing spend on aggregator sites.
Half of motorists expect premiums to rise at renewal
Almost half of drivers expect their premiums to rise at their next renewal, with one in 10 planning to stop driving if costs go up by £500 a year.
Fitch issues gloomy warning for company market in wake of Ogden rate changes
Fitch has issued a gloomy warning for the UK non-life company market this year in the wake of the Ogden rate cut.
Admiral to raise motor premiums by 10% following Ogden
Admiral will increase premiums by a further 10% in coming months following a double whammy of the Ogden rate cut and the hike in the Insurance Premium Tax.
Biba commits to reducing premiums for young drivers
The British Insurance Brokers’ Association is set to urge the government to support its plan to reduce driving premiums for young drivers.
Tax and exchange rates set to push up home insurance costs
Tax and exchange rates will push up home insurance costs with the average premium rising by 1.8% to £124.
Rise of IPT 'punishes' health insurance customers
Customers find it unfair that they are facing increased tax on their health insurance on top of the tax they already pay to fund the NHS.
Government urged to exempt charities from IPT
Specialist charities insurer Access Insurance has launched a campaign calling on government to exempt the charities sector from insurance premium tax.
None of the revenue from IPT rise to be spent on flood defences
None of the revenue generated from the recent increase in Insurance Premium Tax has been ring-fenced for flood defences, Post can reveal.
C-Force: It's time to unmask the claims heroes
2016 was a big year for insurance claims – but who are the people behind the scenes, making sure customers receive the best service possible?
Home and motor insurers to end 2017 in the red, EY warns
Home and motor general insurers are likely to face significant losses in the coming year, EY said.
This week in Post: Unrated insurers and reasons to detox
The sallow, downbeat faces of my colleagues today can only mean one thing: it’s the morning after the staff Christmas party.
Third of motorists lie to get cheaper premiums
One in three motorists will lie to their insurance company to get cheaper premiums, a survey found.