Govt Called On To Explain Funds Collected In Insurance Levies As Policies Rise Again

An Ennis insurer is calling on the government to declare where the monies collected in insurance levies has been spent, as the cost of policies looks set to rise again.

A third levy is being applied on motor insurance policies in Ireland, despite people already facing high premiums.

It’s to fund compensation for those who lost out in the collapse of Setanta Insurance in 2014 and brings the total levy on policies to 7 percent, which equates to €50 on a €750 policy.


CEO of MunsterGroup Insurance Padraic McNicholas has been explaining this latest price hike to Clare FM’s James Mulhall: