Executive director Graeme Trudgill said the campaign was included in Biba’s 2015 manifesto to “take this issue forward”
Biba has pledged its support to Ageas’s campaign to remove insurance premium tax (IPT) for young drivers taking out telematics policies.
Biba executive director Graeme Trudgill told Insurance Times that he was hopeful that highlighting the campaign in its manifesto for 2015 could help build on the momentum already gained.
“Our motor panel has been very supportive of the idea [of an exemption] for quite some time,” he said. “We then saw Ageas come up with the cost benefit analysis, which was fantastic and made the point very strongly.
“We wanted to put it in our manifesto to take this issue forward; as we know the government is looking very closely at the benefit of telematics.”
Ageas launched its campaign with an analysis of the potential costs and benefits of such an exemption in October 2014, finding that the IPT exemption could save £500m and increase the number of telematics policies in force among young drivers by 245,000 over seven years.