On the 1 November, Insurance Premium Tax (IPT) rose from 6 percent to 9.5 percent, the rise will affect policies renewed or taken out after the beginning of November, and in some cases mid-term adjustments. Each Insurer has their own set of rules as to how the rise is being implemented.  All types of insurance that previously attracted the 6 percent rate are affected by the change introduced by the Government in the budget this July. The UK’s level of IPT is still low in comparison to other countries. Germany for example levies 19 percent; however this is still widely regarded as a large increase for UK policyholders.