Changes to the cost of insurance - 09.15

[sarah707]

For information I have received this email from Morton Michel today -

Insurance Premium Tax: Increase to standard rate

The first budget of the new government included a surprise increase in the Insurance Premium Tax, from 6% to 9.5%. It is being brought in quite fast, and the insurance industry was not warned in advance!

The change will apply to all new premiums from November, and all premiums whenever the contract was issued from March.

With little time to prepare for this substantial rise, the industry will have to pass on the cost to consumers and businesses.

More information on the blog here - https://www.*****************/ChildcareInsuranceBlog/.

[FloraDora]

Just picked up this email too!
Interesting to see what the new cost will be.
I missed this affecting me when I read about it some time back!!

[loocyloo]

thanks ( I think !!! ) I missed this too!

[miffy]

Ooooo sneaky! I didn't know about this - bet there will be a lot of people wondering why their premiums have shot up!

Miffy xx

[TinyTinker]

I saw this - it didn't say how much new premiums were - are we too asume just the % raise that they have incurred!

I was deciding whether to go to pacey when I'm due to renew, just because you seem to get more from it - but it is quite a lot more..