Insurance costs set to fall
Moves to reduce the cost of claims by the Government and a recent recovery in the equity markets will have a significant and immediate impact on premia, the Irish Insurance Federation says.
The biggest contributory factor in rising premiums is the spiralling cost of claims, but concerted and unprecedented legislation spearheaded by Tánaiste Mary Harney, Justice Minister Michael McDowell and Environment Minister Seamus Brennan, will all help to reduce the cost of motor insurance, maybe as early as this year, according to IIF spokesperson Martin Long.
