Motor premiums have risen by 9% in past year

The Central Bank has today announced that motor premium costs have risen by 9% in the past year for motorists across Ireland and the North West.The revelation has been met with criticism from some groups who say that despite the increase in repair costs, the rise is still too high.Despite this there are cuts to insurance prices planned through government intervention.CEO of the Alliance for Insurance Reform Brian Hanley says that future price drops must be passed on to customers.