Motor insurance cost review to be finalised ‘by end of 2016’

Motorists will likely have to wait until the end of the year for an interim report on soaring insurance costs to be published.

The Department of Finance launched a review of the motor insurance industry at the beginning of 2016 in response to the spiralling cost of premiums over the past two years.

Motor insurance costs have surged 35% in the past year and more than 60% since January 2014.