IPT (insurance premium tax) has doubled from 6% to 12% over the last few years, which has forced insurance premiums up in turn for customers and now accounts for £50 on an average policy. Though IPT only directly affects insurers, this is likely to have a knock-on effect to your business insurance policy.
The UK’s second biggest construction company has entered liquidation after negotiation talks between the firm, money lenders and the government failed to reach a conclusion, threatening thousands of jobs.
Fly-tipping is a serious issue affecting almost two-thirds of farmers according to a survey carried out by Farmers Weekly, and can lead to them not only having to clear it up themselves, but also puts them at risk of being held responsible for any environmental damage caused.
Millennials will soon overtake baby-boomers as the prime consumers for insurance products. However, it is argued by business advisors Fuel Cycle that insurance companies need to do more to target the up-and-coming millennial generation in 2018.