Stuart Sculllion, chairman of the Association of Medical Insurers and Intermediaries (AMII) has urged the private medical insurance industry to 'start lobbying and lobbying hard' against the latest Insurance Premium Tax (IPT) increase which adds further pressure on already increasing premiums.
Speaking at the annual AMII Summit in London shortly after the Autumn Statement announcement that IPT would increase to 12% from June 2017, Scullion warned of the further strain on private policyholders and the NHS. Scullion reported that policyholders, particularly older and loyal PMI customers, were lapsing policies that they now deemed unaffordable. Of today's IPT increase, he said: "I think that we are an easy target. I have previously said that the Treasury has an agenda to levy IPT at same level as VAT, not that should encourage any of us." He urged delegates at the AMII Sum...
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