IPT hikes driving thousands of policyholders into the NHS

Alex Perry, CEO, Bupa UK Insurance

Recent hikes in insurance premium tax (IPT) are driving thousands of policyholders to cancel or downgrade their PMI cover at a cost of £126m a year to the NHS, according to new research by Bupa and economics consultancy Cebr. Cebr estimates that every 1% rise in IPT results in 31,500 PMI subscribers cancelling their cover,…

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