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<p>The Department has held a number of meetings with the motor insurance industry, at which a range of topics have been discussed. These topics include young driver safety and technology measures, such as telematics, which can impact on the cost of insurance.</p><p> </p><p>Representatives of some parts of that industry have indicated to us that they support a reduction in, or exemption from, Insurance Premium Tax for telematics insurance policies for young drivers. Insurance Premium Tax is a matter for the Chancellor of the Exchequer.</p><p> </p><p>As indicated in the British Road Safety Statement <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/487949/british_road_safety_statement_web.pdf" target="_blank">“Working Together to Build a Safer Road Systemâ€</a>, published 21 December 2015, we will work with the insurance industry to incentivise safer behaviours and to reward the uptake of those new technologies and opportunities to improve skills that are proven to reduce collisions.</p> |