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In March 2017, the Lord Chancellor amended the ‘Ogden rate of discount’, which is used to calculate compensation awards following an injury. As an example, the insurer Allianz has demonstrated that if a 30 year old man earning £25,000 a year were seriously injured and required nursing care for the rest of his life, the new calculation rate will increase his compensation from £2.8m to £6.3m.

The effect of this means insurance premiums must increase to cover the increased cost of claims. PricewaterhouseCoopers has warned that drivers could see their annual comprehensive motor premium rise by anything up to £1,000.

Added to this, the insurance premium tax increased from 9.5% in November 2015, to 10% in October 2016, rising to 12% in June 2017.

Duncan Sutcliffe, director, Sutcliffe & Co, commented: “Many people are getting a nasty surprise with their insurance renewal quotes. Our advice remains the same: speak to your broker to make sure you have the right cover for your needs, and your broker will do the leg work to find the right policy at the right premium for you.”

"May I congratulate you and your staff for the attention to detail and the service that you have given to Ductbusters over the years. We searched for a long time for an Insurance Broker that had the professionalism to resource the many and varied insurances we required and you have never failed ourselves."

Dermott Quinn, Managing Director Ductbusters Ltd

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"I highly recommend the Sutcliffe & Co team both for their proactive ongoing annual renewal work & also for helping during a recent claim. Its great to know we have a local firm with people we can rely on."

Julian Powell, Business Director, HallmarkHulme Solicitors

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“We had been with our current broker for several years and had become complacent. An increase in premiums led us to want to cross check with an alternative broker and we chose Sutcliffe. We found them a breath of fresh air; there was a transparency in our dealings, their advice gave us options and they found competitive ways of providing insurance from high quality companies."

Chris Oliver, Director, CHANE Investments Ltd

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“Talbot Transport has been with Sutcliffe and Co for many years and have the greatest confidence in their service. We like their friendly and personal staff and feel they have a good understanding of our business. Any problems we have are dealt with swiftly and smoothly with the least amount of disruption to our daily business”

Sophie Talbot, Partner, Talbot Transport

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“I was thrilled when I found Sutcliffe & Co, friendly, efficient and with competative prices. Their expert advisor really helped me through the insurance minefield and he went that extra mile that other companies just did not...."

Michelle Davies, Office Manager, Davies and Daughters Building Contractors

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"May I congratulate you and your staff for the attention to detail and the service that you have given to Ductbusters over the years. We searched for a long time for an Insurance Broker that had the professionalism to resource the many and varied insurances we required and you have never failed ourselves."

Anthony Eddies-Davies, Director, Live The Adventure Ltd

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Sutcliffe Insurance Brokers Ltd t/a Sutcliffe & Co is authorised and regulated by the Financial Conduct Authority 306068
2 Foundry Street, Worcester, WR1 2BJ tel:01905 21681 | Registered in England No 1167560

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