Government approves draft bill for establishment of motor insurance claims database

A national database detailing how much car insurers are paying out in claims has moved a step closer.

The government has approved the drafting of a bill which would empower the Central Bank to collect data on payouts.

The setting up of the National Claims Information Database is ultimately aimed at driving down the cost of cover.

CEO of Insurance Ireland Kevin Thompson says it is something the industry has been calling for, for some time.

"It will centralise and regularise the reporting of insurance claims in the marketplace which ultimately will go to help policy-makers make more informed decisions and to tackle the cost of claims which is a defining issue at the moment in the marketplace," said Mr Thompson.

Digital desk