Awards for common injuries such as minor whiplash rose significantly since 2004, a report shows.

Increases in motor premiums are being driven solely by the cost of claims, according to Insurance Ireland chief executive Kevin Thompson.

Car insurance premiums increased dramatically by almost 40% within the last year, as motorists struggle to afford to keep their vehicles on the road.

Drivers are set to face even higher premiums in the coming months as insurance sector bodies continue to quibble over the cause of the increases. Figures from the CSO last week showed premiums have ballooned by 24.4% in the past year.

The winter storms that occurred in the first two months of last year cost the Irish insurance industry €157m, an Oireachtas committee heard yesterday.

The insurance industry has come in for criticism from TDs and senators for refusing to pay out to policy holders who have had their cars damaged by petrol stretching.

Local authorities are to get €70m for flood repairs after the recent storms, but the fund will not stretch to all required works.

Consumers are facing further hardship as another major health insurer has announced an average hike in premiums of 5.2%.

Health insurance companies have warned of further premium hikes unless the Government amends plans to introduce controversial charges for private patients in public hospitals from January.

Up to 1.2 million Irish adults are facing a €100 increase in their health insurance plans, according to the Chief Executive of Insurance Ireland.

Insurance companies areunlikely to take legal action against the ESB for the floods which devastated Cork city in 2009.

The Irish Insurance Federation has today denied that homeowners in flood-risk areas are being targeted by price-fixing.

Celtic 2 Rangers 1

West Brom midfielder Nigel Quashie has joined West Ham in a deal that could be worth £1.75m.

SELF-EMPLOYED people could be down a massive €420,000 at retirement depending on their choice of pension fund manager.