Search The AFO

Search for ...
News Stories
Web Pages
Library Resources

Government quietly introduce insurance increased costs

When governments declare budgets, usually in March or April they trumpet the important bits and somehow manage to slip through all kinds of tiny changes that affect people at a later date.

One of those ‘tiny changes’ introduced by the government as at 22 May 2017 was an increase in Insurance Premium Tax, which has now gone to 12% from 1 June 2017.

For example, if your public liability insurance premium is £1000 it will now be £1120.

Doesn’t seem like much but have you heard of the Ogden discount rate, I certainly haven’t but the Chancellor reduced that rate from 2.5% to 0.75% and when I investigated what this actually meant it is all about a subsidy to the insurance underwriters.  Without going into too much detail the net increase in premium rates from June 2017 will now be effectively 4.2% plus the extra tax.

Tracey McCreath at La Playa has given us as much notice as possible on this and is already searching for an alternative underwriter and will negotiate the best possible deal she can on behalf of AFO members.

Who knows, after 8 June it could get better or indeed worse.  Be warned!  Watch this space!

Steve Heap, General Secretary, AFO
May 2017

AFO: 26th May 2017 11:03:00


AFO Partners

Alacrify Ltd

Our services include building responsive websites, digital marketing, SEO, social media campaigns and training, and offline promotion and print too. We are delighted to have designed and developed the website for AFO....

APS Accountancy

AFO is delighted to be able to offer to membership advice on “the money”. Our good friends at APS Accountancy in Aylesbury, Buckinghamshire and Dunstable, Bedfordshire are offering a similar service to that of Jon Payn...


Eventbrite brings people together through live experiences. Discover events that match your passions, or create your own with online ticketing tools. Eventbrite is an online ticketing platform wher...

Graham Sykes Ltd

Hello Everyone Graham Sykes and the team in Exmouth are delighted to be looking after your Festival Portfolio policies, some of you, we have already spoken to as your policies have come up for renewal, the rest w...

ID and C Bands

Right now, we make wristbands, passes, lanyards and accreditation, but our product range is always growing. We're usually first in line when it comes to wristbands for festivals and events, but we are finding out other...

LSL Solicitors

Award-winning specialist solicitors for your festival or event,   LSL offer advice in most areas of law including Alcohol & Entertainment licensing, Contracts, Environment and Safety. Jon Payne is a long...

Stand Out Magazine

Stand Out is a must-read for the active buyer in the events marketplace....