Harney announces insurance regulations

The Tanaiste, Mary Harney, has announced new regulations requiring insurance firms to give 15 days written notice of policy renewal dates.

The law will come into force in November and is designed to ensure that motorists in particular have ample time to shop around for a more competitive quote.

It is one of 67 recommendations made in a report by the Motor Insurance Advisory Board following an investigation of high insurance costs in Ireland.

Ms Harney promised that the other recommendations will be treated with the same urgency as this one.