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Reform Insurance Premium Tax (IPT)

Comment 31st July 2010

Remove Insurance Premium Tax from premiums on all forms of insurance and add it to claims so that illegitimate claims are weeded out and reduce the overall cost of insurance.

Why does this matter?

To encourage responsibility for insuring against all eventualities i.e. car insurance, household insurance, travel insurance etc so that the sensible are not punished for being aware of risks and their allowances for them.

It would help to lower costs on the typical household in these difficult times and also weed out claims that are not substantiated as they will be a little more expensive to administer.

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