Irish Motor Insurers' Profits Up As Claims Fall, Report Says

Law360, London (November 3, 2020, 9:07 PM GMT) -- Insurance businesses have seen earnings from premiums rise even as the cost of claims made by motorists has fallen 9% over 10 years, according to a report from the Central Bank of Ireland that has sparked criticism from a group that campaigns for lower premiums.

Figures from the central bank's private motor insurance report show the 9% fall in the cost of claims per policy between 2009 and 2019, as well as a 35% increase in the average earned premium per policy during this time.

On a broader scale, the average cost of a claim increased by 65% over the 10-year...

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