Recent data from Ireland's Central Bank indicates that average car insurance premiums have risen to â¬616, a â¬67 increase since 2022, marking a 12% rise over the last two years. This surge occurred despite various government reforms aimed at reducing costs, including adjustments to personal injury compensation levels and the establishment of a specialized fraud unit. The Alliance for Insurance Reform expressed concern over the proposed increase in personal injury payouts, highlighting the tension between rising premiums and judicial recommendations.
The average premium is now â¬616, a rise of â¬67 since 2022, reflecting a 12% increase over the last two years despite government reforms.
The Alliance for Insurance Reform questioned the government's recommendations for increasing personal injury damages awards in the context of rising motor insurance premiums.
#insurance-premiums #government-policy #motor-insurance #personal-injury-compensation #fraud-prevention
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