Insurers have warned of a further increase to the price of motor premiums.
The rise is blamed on an increase in Insurance Premium Tax from 10 per cent to 12 per cent effective today (1 June). It marks the third increase in two years. In June 2015, the rate was six per cent. APIL has long-argued that Insurance Premium Tax is one of a multitude of factors which contribute to the setting of premiums, in a running battle with insurers who routinely blame personal injury for premium increases.