Motor insurers pump up premiums
Comment: Statistics show that the cost of motor insurance is on the rise and that this could be the beginning of an upward-only premium cycle.
The most recent Consumer Price Index data unfortunately reflects what we have been signalling since the beginning of the year – motor rates have gone up significantly and will continue to do so – they may increase a further 25 per cent by year end.
The bottom line is that motor insurance continues to be unprofitable in the Irish market due to prices being pushed to artificially low levels by heightened competition. Much of this was...
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