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IPT on Legal Expenses Premiums


Delwyn Griffiths

Question

For information purposes:

We changed the Legal Expenses Premiums control within Broker Amendment earlier this month in preparation for the 12% IPT rate.

This has caused problems within the last few days because the APM system is confused because of the imminent transition date from one IPT rate to a new rate, and would not allow us to insert/include Legal Expenses in the NEGX page of the APM quote.

OGI advises that the only solution is for us to revert the IPT rate to the current 10% rate until 1st June !!!

OGI also explain that the system is linked to the way the software is written in connection with the users of "Professional APM" and that to change the software to overcome the problem (for us) would upset the users of Professional APM.

How many users of the standard APM are there and are we insignificant in number?

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Hi Delwyn

 

It's been a while since I worked on APM Standard - and the Legal Expenses options in "Broker Amendment" - so not sure I can help?!

 

First of all - can you clarify what have you changed right now, to set up for the new IPT value and, where have you changed things?

 

M

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