UK Insurance: General (3 October 2016)

OAC Digest
Life insurance, Non-Life

03 October 2016

Selected recent UK news items of more general interest:

[General Insurance] The new standard rate of Insurance Premium Tax (IPT) is due on insurance premiums received on or after 1 October 2016 with exceptions. From 1 February 2017, the new rate applies to all premiums, regardless of when the contract was entered into.

On 29 September, the Financial Ombudsman published the latest issue of Ombudsman News which includes the importance of considering individual circumstances and an explanation of their approach to adding interest to compensation awards.

David Gray

For more information
David Gray
Consultant Actuary

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