Drop in number of motor insurance claims

 

A new report on motor insurance shows the average cost of a premium fell by seven percent last year.

The data published by the Central Bank for 2020 also shows a 26 percent drop in the number of claims by drivers.

Insurers also issued premium rebates amounting to 42.5 million euro due to Covid lockdown restrictions.

Director of Economic and Statistics at the Central Bank, Mark Cassidy, says insurers still made a profit despite the money they gave back to customers:

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