Autobiz Information
Advertise with us
About Autobiz
Contact Us
Automotive Training
Technical Helpline
Featured Products
Search For Parts
Print Edition Print Edition
Magazine Deadline
Display adverts: Thurs 16th February
Subscribers entries: Thurs 23rd February
Leaflet distribution:
Fri 24th February
Article Search
Keyword Search:
All words
Any of the words
Exact phrase
News by Category
All News (8149)
Aftermartket (3590)
Bodyshop (1839)
Garage (3472)
Recovery (277)
Dealer (1798)
Insurance premiums fall one month on from EU raids
Friday, September 08, 2017

Recent raids on insurance company offices by European Union officials have been credited with causing a sharp decline in the cost of motor insurance premiums.

The latest figures from the Central Statistics Office released for August show a 14% drop in the cost of cover and come just a month since European Commission competition enforcers carried out dawn raids on insurers, brokers and Insurance Ireland. The raids came on the back of suggestions that a cartel was operating within the insurance industry.

Although this is welcome news for motorists, many observers still believe that Irish drivers are paying vastly inflated premiums, which have gone up on average by 70% in the last 3 years. Speaking about the reductions Conor Faughnan of AA ireland said, "The battle is not won yet. Motorists are still paying too much for insurance. We need to push through reforms that the AAI and others have identified."