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Friday 3 February 2023 Dublin: 9°C

# Motor insurance

Last year
2022
# Motor insurance
Motor insurance premiums fell by 17% between 2017 and 2021
That’s according to statistics contained in the Central Bank’s fourth annual Private Motor Insurance Report.
All time
# Motor insurance
Frequency of motor insurance claims dropped 26% amid pandemic while premiums fell 7%
Industry profit margins were up from 10% in 2019 to 12% last year.
# personal injury
Justice Minister launches review of how personal injury compensation should be calculated
The Cost of Insurance Working Group (CIWG) was established in 2016 to analyse the high costs imposed by insurance companies.
# premium rates
Cost of car insurance rises by 42% despite an overall reduction in number of claims
Figures showing the average cost of premiums and payouts were released by the Central Bank today.
# Central Bank
Insurers must give customers information on previous year premiums, Central Bank rules
The rules mean that insurers must also extend their renewal notification period from 15 to 20 working days.
# crossing the border
One million Green Card forms sent to motor insurance providers in case there's a no-deal Brexit
Drivers who think they may need a card have been advised to apply one month in advance.
# Speeding
All young drivers 'should have tracking devices installed to reduce car insurance costs'
Junior Minister Michael D’Arcy said young people are choosing to pay higher premiums rather than have the devices installed in their cars.
# getting tough
'We're really cracking down on this': Motor insurance body in favour of tougher powers for prosecuting fraudsters
The Motor Insurance Bureau of Ireland says that one in eight of the claims it processes are ‘suspicious’.
Voices
'These investigations could seriously alter the motor insurance landscape in Ireland'
This is an exceptionally worrying time for those companies implicated in these investigations, writes Jason O’Sullivan.
# cartel behaviour
Insurance Ireland 'cooperating fully' with office raids regarding motor premium costs
A number of motor insurance offices have been raided today regarding alleged price-fixing amid rising costs
# Insurance Ruling
Supreme Court rules State must make payouts to claimants affected by collapse of Setanta Insurance
The State Liquidator and Insurance Compensation Fund (ICF) is now to be held liable for the outstanding Setanta payouts.
# setanta insurance
Innocent motorists in serious road accidents 5 years ago still 'haven't seen a cent'
Some drivers who have been out of work since their accident have yet to receive their insurance payout.
# Motor insurance
1,666 Setanta Insurance claimants still waiting on payouts
It is nearly three years since the insurer collapsed.
# Your Say
Poll: Is owning a car worth the cost?
Motor insurance, fuel, tax, etc. It all adds up.
# factcheck
FactCheck: Are motor insurance claims and legal fees going up or down?
Using previously unpublished data, FactCheck steps in to referee a heated dispute between the Law Society and the insurance industry.
# Paperless
Your paper insurance disc could soon be a thing of the past
The committee chairperson had some harsh words for Insurance Ireland and the Central Bank yesterday.
# bumper costs
Insurance industry claims spiralling costs are returning premiums to "correct base level"
Politicians have been hearing about why costs are rising.
# They Did It
Ireland's legal profession just pointed the finger firmly at insurers when it comes to spiralling motor insurance costs
The Oireachtas finance committee has been hearing from all sides in the motor insurance dispute today.
# Motor insurance
Majority in favour of State-provided car insurance scheme
More than half of people surveyed said they blamed the insurance industry for spiralling costs.
# spiralling
"We're on our knees and begging" - motorists being driven off the road by insurance costs, committee hears
The Oireachtas Finance committee today heard from the AA together with groups representing both older and younger drivers.
Voices
"My generation are shackled by the mistakes of institutions which should have known better"
Kian Griffin argues that young motorists are being left to foot the bill for a broken system.
# On The Road
'Shocking figures': Motor premiums up almost 40% in the last year
In the last year, one third of Irish drivers have seen their insurance rise by up to 50%.
# premiums
Thousands of drivers to get refunds after collapse of Enterprise Insurance
The insurance firm, which was declared insolvent on Friday, has about 14,000 Irish customers.
# Setanta
This is how drivers will be protected if a motor insurance company collapses
The liquidation of Setanta Insurance in 2014 left over 1,700 people out of pocket.
# Your Say
Poll: Has your car insurance premium gone up this year?
TDs are set to debate the issue today.
# On the up
There's been a big jump in the number of people being refused car insurance
This week, Fianna Fáil is to propose a motion to tackle the rise in motor insurance costs.
# Liquidated
Regulator knew about Setanta Insurance concerns since last November
An estimated 75,000 customers are believed to have been left without insurance after the company entered liquidation.
# car insurance
Young women fare worst as gender neutral pricing drives up car insurance
On average, women under 25 saw an increase of 20 per cent with some reporting rises of up to 50 per cent while younger men reap the benefits of the new pricing system.
# Road Safety
Nearly six per cent admit to drink driving, men more likely to do it than women
The findings are contained in a new survey from AA Motor Insurance.
# Your Say
Poll: Should there be a mandatory prison sentence for uninsured drivers?
A new survey has shown that almost 7 per cent of people have had their vehicle damaged by an uninsured driver, so should the penalties be harsher?
# Your Say
Poll: Do you shop around for your car insurance?
A survey has found that you could save up to €1,335 if you shopped around for your car insurance.
# Motoring
Drivers 'paying €30 each' to cover those without insurance
The Irish Brokers Association wants drivers who travel without insurance to have their cars seized by the State.