Cost of Settling Motor Insurance Claims Increased 23% in First Half of 2024 - 03/07/2025
There was a 23% increase in the cost of settling motor insurance claims during the first half of last year compared to the second half of 2023, according to latest figures from the Central Bank's National Claims Information Database (NCID).It shows the cost of motorclaims settled between January and June 2024 was €414 million, with the Central Bank attributing the higher cost to an increase in damage claims.Commenting on the NCID figures, the Alliance for Insurance Reform said they "make clear the Government’s looming increasing personal injury awards couldn’t come at a time for…
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