Premiums set to rise further as insurers’ motor losses total €273m

Motorists are likely to be hit with further insurance price hikes over the coming months after the country’s insurers made a combined loss of more than €273m last year.

The multi-million euro losses are a further illustration of the ill-health of the sector which has come under greater scrutiny in recent months.

Earlier this month, the Competition and Consumer Protection Commission (CCPC) launched a probe into anti-competitive practices in the motor insurance sector.