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Wednesday 22 November 2017

Drivers to get more notice about cover

'Drivers would be informed 20 working days before their policy is due to be renewed instead of 15 days, under the proposals' (stock photo)
'Drivers would be informed 20 working days before their policy is due to be renewed instead of 15 days, under the proposals' (stock photo)
Charlie Weston

Charlie Weston

Motorists are likely to be given more time before they are told by their insurance company that their cover is due to be renewed.

The Central Bank has also proposed that insurers give drivers a breakdown of how the premium is calculated.

Drivers would be informed 20 working days before their policy is due to be renewed instead of 15 days, under the proposals.

The moves come following recommendations made by Cabinet Minister Eoghan Murphy, who chaired a working group on cutting motor insurance costs.

The Central Bank is proposing changing its insurance regulations to give drivers more detailed information in insurance quotes and to extend the renewal notice period.

Views have been sought from the public on the changes.

Irish Independent

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