October 2015 renewals
The usual renewal invitation letters were sent out yesterday, 1 September, to members and insurance clients whose membership/insurance are due for renewal at the end of September. If you are expecting one, but don't receive it in the next day or two, please let us know!
Points to note in relation to insurance: (1) for polices issued or renewed on or after 1 October, a new endorsement, No. 432, makes some amendments to the policy document, in anticipation of the coming into force next year of the Insurance Act 2015.
And (2) for policies issued or renewed on or after 1 November 2015, the rate of IPT (insurance premium tax) will increase from 6% to 9.5%. From that date we plan to show IPT separately in all our documentation, so that it is at least clear how much the government has added to the cost of insurance.