Average motor insurance premiums increased by 42% between 2009-2018 – report

The Central Bank's first-ever Private Motor Insurance Report also shows legal costs for most cases settled in court make up nearly two-thirds of the total compensation awarded.

Update: A report has revealed the average motor insurance premium increased by 42% between 2009 and 2018, despite the cost of claims falling by 2.5% during the same period.

Newly released data also shows the private motor insurance industry is generating an operating profit of around 9% while the average level of profit in the UK is 5%.