Insurance industry is benefitting from government reforms that reduce cost of claims, but average cost of covering a vehicle has reached €655
Motor insurers will be forced to explain to policyholders why they are increasing premiums under a new code
Insurers have been told to pass on to motorists savings they are making from reforms in the sector.
Robert Troy, the junior minister with responsibility for insurance, said motor insurers were benefiting from government reforms that have reduced the cost of injury claims.
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