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AVERAGE CAR INSURANCE premiums fell by 7% last year, according to the Central Bank.
On a quarterly basis, the average earned premium has decreased by 22% since its highest point in Q4 2017.
The reductions have been welcomed by the Alliance for Insurance Reform which said it was “only right that at least some of the savings were passed on” to policy holders.
Jennifer Carroll MacNeill TD, the Minister of State for Financial Services, Credit Unions and Insurance, noted Central Bank’s publication of the fifth National Claims Information Database (NCID) Private Motor Insurance Report for 2022.
“It’s good to see that many individuals and families benefitted from reduced motor insurance premiums again in 2022 at a time when they were experiencing significant inflationary pressures elsewhere,” MacNeill said.
“Having more affordable motor insurance with a greater protection of cover is a good position for over 2 million policyholders to be in.”
The minister said that the Central Bank report shows that new personal injuries guidelines are working, pointing to data showing that half of all injury claimants that settled in 2022 did so under the guidelines, compared to 16 per cent in 2021.
This included the majority of claims that were settled either direct or through the Personal Injuries Assessment Board (PIAB).
The new guidelines, which came into effect in 2021 and replaced guidance in the Book of Quantum, set out the level of damages that may be awarded or assessed in respect of personal injuries.
“However, the Central Bank’s report also highlights that litigation remains a main driver of claims costs, an issue I am raising directly with firms in the industry and with the Law Society of Ireland,” MacNeill said.
“I am also engaging with insurers on the need for them to increase their risk appetites and reduce prices for home owners, voluntary groups and businesses so that they too can benefit from the recent package of insurance reforms by government in a way that motorists already have.”
In a statement welcoming the Central Bank report, the Alliance for Insurance Reform chief executive Brian Hanley said more reductions should arise as judicial guidelines filter through into more cases, “notwithstanding challenges such as inflation”.
“Businesses right across the country are also left wondering why premium reductions could be passed on in the context of motor insurance but have not been forthcoming for public or employer liability policies, which remain stubbornly high. The reforms applied to and should benefit everyone,” Hanley said.
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Once the UK ban was lifted I headed on down to donate but was told my blood type was so rare (AB -) that they’ve enough in stock!
@mr magoo:
Fair play for making the effort.
@mr magoo: Good for you!
@mr magoo: enough in stock at that time. Doesnt stop you donating again. once you are registered you will get a text message to say how many days stock there is left for your blood group. Once you donate you also get a message to say where and when your blood was used.
@LittleBee: Yes, once when I donated I was talking to a man whose children were being looked after by the staff. He had rare blood. They rang him ahead of an urgent operation and he jokingly said “I’ll come straight in if ye mind the children for me.”
@mr magoo: there is a very small percentage of the population that are AB- therefore its is limited in how many people can use this blood type because it can only be used for AB- patients. However you should check if you are eligible to donate platelets as your blood group (AB-) is the ‘universal donor’ for platelets (which have different requirements than blood) and would always be in high demand. Well done for donating.
Had my first transfusion 4 Months ago! Disappointed to learn I’ll never be allowed to donate ever again!
@rosetheone: i had a heart op in 81. I had a transfusion and it breaks my heart i cant donate blood because of it
I have HH, donate now once a week to get it under control but gave been told due to some admin error/row/bunfight between ibts and hse that it ends up in the bin. It’s very disappointing to say the least
@Damian Rossiter: They will take it once you’re in the maintenance phase of treatment but not during the first few venesections while they are trying to get your iron levels down.
Great article, for me I have never given blood as had jaundice as an 8-9 year old. I never heard that the rules had changed. Delighted. Will be making an appointment tomorrow.
And, I quote, you cannot give blood in Ireland if: “you are female and have sex with a Male who ever had oral or anal sex with another man with or without a condom or other form of protection”……or “If you are Male and have ever had sex with another male, even ‘safer sex’ using a condom or pre-exposure prophylaxis “.
Homophobic, much? Presumptive, much? Discriminatory, 100%. What about women who have had anal sex? Let’s face it, it’s pretty common. Can they just rock up.and donate blood no questions asked?
@Gillian Fallon: That’s because of AIDS. I once worked with a married couple from South Africa and they couldn’t donate blood here either. They offered, but the staff explained that they wouldn’t be eligible to give.
@Fiona Fitzgerald: I know why it’s the case but is it evidence based and why aren’t women included? I would imagine there are far more straight women that gay men in this scenario affected.
@Gillian Fallon: As far as I know, it is evidence-based. But they don’t exclude straight women. Or gay women. (Unless, say, it was a straight woman married to a bisexual or gay man.) It would be fine to donate otherwise.
@Fiona Fitzgerald: It’s no longer evidence based due to better windows for being able to screen for HIV in individuals. Ireland recently changed their policy to a 12 month deferral period for sexual contact with a MSM partner and this is still a very conservative measure compared to the deferral windows for other countries.
Also, while people can take PREP to prevent being able to get infected with HIV, there’s no provision yet for these individuals to be able to donate blood unless they again meet the 12 month deferral window. Hopefully this can change over time but the IBTS tend to be pretty conservative and slow compared to many other countries.
@Fiona Fitzgerald: it’s about HIV which is different from aids. HIV is a virus which is transmitted. AIDS is a syndrome that develops when HIV goes untreated. You cannot catch AIDS.
The ban is not just against gay and bisexual men but also any man who has ever had oral or anal sex with another man (and there are a lot of straight men out there who have) but also women who have ever had sex with a man who has had sec with a man. The difference is that it is men who are targeted.
One of the key issues is that men who are in monogamous relationships and who know their status are not allowed donate blood which is problematic. The entire screening process is based in trust and that the person answers the questions honestly. There is no reason to bar monogamous gay or bisexual men from donating blood. But the current deferral mandates celibacy for 12 months which is ridiculous.
@Gillian Fallon: it’s called being cautious.
@Gillian Fallon: I used to donate Palettes which were used to assist very sick people, but unfortunately , after a year or more , I was informed that they cannot take palettes from married women. When I did donate, I was told that my palettes were excellent and sometimes I gave two batches in one session.
Did not know the English thing was lifted. I’m going to give blood now. It’s something everyone should do. It’s been so long for me that I got a glass of Guinness the last time I donated.
I was given 4 bags a couple of years ago – does this mean I can’t donate myself?
@The only INFP in Ireland: I believe you can’t but ring them, they are the most helpful service you can deal with.
@The only INFP in Ireland: that is correct. If you have ever received a Transfusion at any stage you cannot donate blood. The reason behind this is because you received blood from another donor which is very safe to use but still is never a 100% match for your blood (obviously because its from another person) so your immune system may have reacted to this blood by making antibodies. If you were to donate and these antibodies passed to another it could cause harm. As they are your antibodies (made by your immune system) they wont cause you any harm.
I gave blood many moons ago but since then got diagnosed with Type 1 Diabetes. I am sure i checked before and I can’t donate but can anyone confirm?
Sponsored by the Vampire Society of Ireland!
I notice they avoided the issue of not accepting gay blood – probably because it’s an indefensible stance?
At least they’ve finally decided that getting my english blood isn’t as bad as dying in need of a transfusion
I’ve lived in the US south east for the last 8 years and I’ve been to 2 tropical countries in the Americas in the last 6 months.
I know I cannot give blood due to West Nile, Zika and other viruses common in this area for time but not sure how long.
How long (if ever) can I give blood in Ireland?
@David Guiney: It used to be six months, but seriously, ask them because you might be eligible again now, and they can always do with new donors.
Here’s a link to the quick quiz if anyone is wondering if they might be able to donate:
https://www.giveblood.ie/can-i-give-blood/blood-eligibility-quiz/
Made my first donation when I turned 18 that’s when the Guinness and Harp was flowing.
Please get someone to edit the numbered list so that people can share the article.
On the app, a lot of the content is duplicated after #4.
I notice they avoided the issue of not accepting gay blood – probably because it’s an indefensible stance?
I notice they avoided the issue of not accepting gay blood – probably because it’s an indefensible stance?
I notice they avoided the issue of not accepting gay blood – probably because it’s an indefensible stance?
At least they’ve finally decided that getting my proddy blood isn’t as bad as dying in need of a transfusion
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