Call for taskforce to help cut motor insurance costs

Soaring motor insurance premiums hitting drivers have prompted calls for a new taskforce to examine the profits being made in the industry to help rein in costs for consumers.

Stronger controls over personal injury awards are needed as well as more monitoring of profits in the industry, Fianna Fáil have warned.

The latest statistics reveal that premiums have shot up by a quarter over the past year — reducing hard won gains for motorists’ insurance costs in previous years.