|AmTrust Underwriting Ltd|
1 Great Tower Street
|Tel||:||0203 003 6969|
|Fax||:||0203 003 6997|
Welcome to AmTrust Underwriting
Policy Wording Amendments
As AmTrust Underwriting Limited will not be opting out of any aspects of the new Insurance Act (2015); all of our policy wordings have been updated to reflect changes under the Act.
Whilst these wordings will look very different in terms of their presentation, the cover has remained the same in most cases. Should there be any changes to your cover, a Summary of Changes will be provided with the Quote Letter for all renewal business.
Insurance Premium Tax - 2016 Budget Changes
From 1st October 2016, the standard rate of Insurance Premium Tax (IPT) will change from 9.5% to 10%.
There will also be a transitional period, 1st October 2016 to 31st January 2017, for mid-term adjustments.
What this means to you is:
- Policies with a start/renewal date prior to 1st October 2016, will be subject to an IPT rate of 9.5%
- Additional premiums or policy changes made prior to 1st October 2016, will be subject to an IPT rate of 9.5%
- Additional premiums or policy changes within the transitional period, will be subject to an IPT rate of 9.5% if the original policy was in place before to 1st October 2016
- Additional premiums or policy changes made within the transitional period, will be subject to an IPT rate of 10% if the original policy was placed after 1st October 2016
- Refunds will be processed using the IPT rate applied to the original transaction, regardless of the date
- ALL policies (at the standard rate of IPT) with a start/renewal date on or after 1st October 2016 will be subject to an IPT rate of 10%
Insurance contracts which are exempt from IPT (0%) and any insurance subject to a higher rate of IPT (20%) will remain the same.
Medical Emergency Assistance Provider Changes
Our medical emergency assistance service is now provided by Healix International.
However, the Emergency Number - +44(0) 203 003 6900 - has not changed.
If you have any questions regarding the above, please contact one of the following who will be happy to assist;
Matthew Stark | Senior Underwriter
Tel: +44 (0)203 003 6969 | Mob: +44 (0)7525 226 182
Thomas Keeble | Operations Technician
Tel: +44 (0)203 003 6982