An Ennis insurer is downplaying the potential impact on premiums of the new Central Bank rules surrounding transparency in the motor insurance sector.
The new rules stipulate that those buying car insurance will have longer to shop around from a better quote, while insurers must also display the premium the customer paid last year on the same page as their new quote.
The changes have been introduced in an effort to tackle the rising cost of insurance in the sector, which has been put down to a rise in fraudulent claims.
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Managing Director of MunsterGroup Insurance Padraic McNicholas, however, isn’t convinced it will result in savings.
