ABI reiterates call for government to slash IPT
Trade body's data shows motor insurance premiums rose again in the last quarter of 2019 with increases in IPT and changes to the discount rate driving up prices.
The Association of British Insurers (ABI) has called on the government to reduce the rate of the insurance premium tax (IPT) after the average price for comprehensive motor insurance continued to rise in Q4 2019.
The trade body’s latest Motor Insurance Premium Tracker showed that the average premium paid in Q4 2019 was £484, up 3% on the previous quarter and the third highest quarterly level since 2012, when the ABI started collecting the data.
In addition, the average motor premium paid in
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