Connect with us

News

Central Bank reports 5% reduction in Motor Insurance premiums

Published

on

0257449_0250641JPHealy1000x600.jpg

The Central Bank of Ireland has published a mid-year report (to end June 2022) providing key statistics on the private motor insurance industry in Ireland.

This is the first such report undertaken and captures data using the National Claims Information Database (NCID).

The key findings are:

The average premium per policy was €578 during this period. This represented a 5% reduction from the average premium in 2021. The average cost is €135 less than in 2017.
Claims settlements – there was in increase in the number and cost of damage to vehicles claims and a decrease in the number and cost of injury claims. However the data is being compared to the first half of 2021 when restrictions were in place.

48% of personal injury claimants settled directly with insurers representing 15% of total costs.

13% of claimants settled through the Personal Injuries Assessment Board (PIAB) making up 6% of total costs.

39% of claimants settled through litigation making up 79% of total costs.

The Central Bank of Ireland noted that there have not been enough litigated claims settled under the new guidelines to assess the impact on the average cost of a claim in the litigation channel.
The Personal Injuries Guidelines were adopted by the Judicial Council on 6th March 2021. However some claimants received compensation awards calculated with reference to the previous structure known as the Book of Quantum. It will take a few years of data to get accurate trends of the new Guidelines.

The average Irish car insurance premium of €578 is almost half the UK average. The average premium in the UK is £929 (€1062.14) having increased by 21.1% in the year up to February 2022.

Advertisement

News

Killarney Civic Arts Group to hold first AGM

Published

on

By

Killarney Civic Arts, a new group formed to advance cultural awareness and promote participation in the arts, is inviting the public to its inaugural Annual General Meeting (AGM) this month.

The group, made up of artists and arts workers, aims to share experiences and insights with the community regarding the future and direction of cultural development in Killarney and the wider Munster region.


Killarney Civic Arts invites anyone who cares about shaping creative places in the community to connect with them and share their thoughts and stories.


The first AGM will be held in the Deer-hunter lounge at the Dromhall Hotel, (V93PY80), on Saturday, December 13, at 10.00am. The event offers free entry and is hosted in an accessible room.


For further information, the public may contact Dolores Lyne at 087 263 8720.

Attachments

Continue Reading

News

Tree of Light ceremony on Monday

The spectacular 100ft Tree of Light in Killarney, festooned with close on 3,000 lights and topped with a giant star, will again illuminate the town this Christmas with the official […]

Published

on

The spectacular 100ft Tree of Light in Killarney, festooned with close on 3,000 lights and topped with a giant star, will again illuminate the town this Christmas with the official switch-on date planned for Monday next, December 8.

The lighting up ceremony will take place after a community Mass in the adjacent St Mary’s Cathedral at 6.15pm and a short prayer service will mark the big switch-on.
The towering Tree of Light is a landmark giant Californian Redwood tree located just outside the main door of the Pugin-designed building.
The project is an collaboration between a sub-committee of Killarney Chamber of Tourism and Commerce and the Killarney parish and it creates a wonderful focal point in the town in the lead up to and during the festive season.
Killarney Parish Administrator, Fr Kieran O’Brien and Christmas in Killarney Chairman, Cllr Niall Kelleher extend a warm invitation to all community groups, schools, clubs and organisations, families and individuals to attend the special Mass next Monday evening or to visit the tree this Christmastime.
The feature star on the spectacular tree will take on an extra special meaning this year as it will be dedicated to the late Donal Grady, a long-serving local councillor and former Mayor of Killarney who worked diligently and passionately for the community.
Donal, who passed away in 2024, was a dedicated public representative who worked with great passion and a real sense of purpose on behalf of his loyal supporters.
Through his work as a long-serving chief fire officer in Killarney, he helped so many families at a time when they most needed assistance and reassurance and he brought a great sense of calm and responsibility to the position
The Tree of Light was first lit to mark the millennium year when it commemorated all those who lost their lives in the conflict in Northern Ireland and it was again illuminated in the mid-2000s to remember those who had been killed on Irish roads.
Since then the project is all about community and it celebrates the fact that Killarney is such a wonderful town to live in.
In the past, the star at the top of the tree has been dedicated to great community activists Johnny Hickey, Yvonne Quill, Paul Coghlan and Rena Kennelly.

Continue Reading

Last News

Sport