Insurance firms criticised for 'derisory' Covid rebates as claims plummet 

The Alliance for Insurance Reform said the analysis shows it was "business as usual" for lawyers, insurers and brokers during the pandemic

Both Insurance Ireland and the Alliance for Insurance Reform called for greater use of the Personal Injuries Assessment Board (PIAB) so that fewer claim cases go to court.

The cost of motor insurance premiums fell by 7% last year while the cost of claims per policy fell much further, dropping 20% due to the impact of the Covid-19 pandemic that saw traffic on the roads plummet.

A report from the Central Bank found that the fall in premiums last year was influenced, in part, by rebates issued by insurers of €42.5m which equates to 3% of private motor insurance premiums.