Liberty Insurance warns motor premiums ‘likely’ to rise

Liberty Insurance has warned that the spiralling cost of motor premiums is likely to continue to increase across the industry over the coming six to 12 months, though to a lesser extent.

Figures from the Central Statistics Office released yesterday again illustrate the huge price increases motorists have faced with premiums up 38.3% in the past year and more than 60% since the beginning of 2014.

Such rapid inflation forced the Government to act with the establishment of a Department of Finance- led review which is due to report on the causes of the cost hikes by year-end.