Joe LeogueThe level of insurance payouts is driving up the costs of premiums in Ireland, according to a junior minister who has defended his work on reducing costs to consumers. However, Mr D’Arcy said that the range of payouts - as set out by the Book of Quantum - are up to five times as much as comparable awards in Britain. “If somebody is getting five thousand in the UK, they’re getting 25,000 here,” Mr D’Arcy told the committee. There were heated exchanges between Mr D’Arcy and Deputy Pearse Doherty (SF), with the latter criticising the progress made in reducing premiums for customers. "There's definitely been some downward pressure on motor insurance premiums in particular recently, which is reflected in the most recent CSO inflation data which shows motor insurance costs falling over 9% over the past year with health insurance also down around 5%," he said.

Source: Evening echo November 15, 2018 18:33 UTC