State must control rising premiums

CYNICISM rather than sympathy is likely to be the general reaction to warnings from the insurance industry that premiums are set to rise again.

For the third year running, the cost of insurance is continuing its relentless spiral. Hard-pressed motorists, especially young drivers, home and property holders, plus beleaguered employers, many now being put out of business by insurance demands, are facing ever increasing demands for cover.

The public can be forgiven for finding it difficult to comprehend how, despite paying higher premium charges last year, the insurance business recorded a loss of €17 million on motor insurance and €73.6 million on liability insurance. In the non-life sector earnings went up by 20%.