The Association of Insurance and Risk Manager's (AIRMIC) executive director David Gamble has spoken out forcefully against the government's proposed increase in Insurance Premium Tax (IPT) today.
He said: "Our members are already being hit by significant increases in insurance charges. They would be extremely unhappy if there was any increase in IPT which would be seen as a stealth tax on a stealth tax.
"We are looking for a reduction, not an increase.
"Many commercial buyers of insurance have experienced premium increases of more than 300% which means they are paying IPT increases of more than 300% for the same cover.
"The government should be encouraging people to take out insurance - not penalising them for doing so."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
