The cost of extended warranties could increase if Chancellor Gordon Brown forces electrical retailers to pay taxes on the insurance policies.
It is claimed that retailers have made huge profits on legal tax avoidance on the sale of extended warranties.
If Brown closes the loophole - as signalled in the pre-budget speech - experts predict high street retailers could lose hundreds of millions of pounds in profits.
The Competition Commission is already investigating the issue of extended warranties.
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.
