The trade association that represents insurtech start-ups in the UK has released a strongly worded plea ahead of today’s (March 03) Budget.

In a joint statement, Insurtech UK co-chairs James York and Luisa Barile said: “There are reports that the Chancellor may be considering a rise in IPT (Insurance Premium Tax) at this Budget, as part of an initial plan of tax rises to help rebuild the public finances due to COVID-19.