On 1st June, the standard rate of Insurance Premium Tax (IPT) rose for the third time in 19 months to its current level of 12%. Having doubled over the course of less than 2 years, this is a government levy that adds significant cost to households and businesses. Originally introduced in 1994, IPT was intended […]Read More
The shocking fall of the Ogden discount rate in February from 2.5% to -0.75% put UK insurers into a tailspin. Well below the 1-1.5% slash they had imagined it would be, it is set to scratch millions off of the profits of the country’s biggest insurers. This is the first time the rate has been […]Read More
According to Lloyd’s, cyber insurance saw a 50% rise in 2016 and the trend is expected to continue as firms look to cover their exposure to cyber-attacks. So, what is cybercrime and how can it impact your business? Cybercrime refers to the criminal actions and activities carried out using computers and technology. In 2016, the […]Read More
The Insurance Act 2015: One of the most important pieces of legislation in the history of the industry.
Introduction We communicated with all of our Clients in advance of the Insurance Act 2015 which came in to force on the 12th August 2016 and have been reminding prospective Clients when discussing their upcoming renewal requirements. Whilst the act came into law from the 12th August, it is still and will be open to […]Read More