Motor insurers have committed to offering refunds or discounts on premiums to their customers.
It's due to an expected drop in the number of claims as less people are on the roads during the Covid 19 pandemic.
Insurance Ireland says the rebates offered by Allianz, AXA, FBD, RSA and Zurich will depend on their claims experience so far.
Here's what they have agreed:
- They will each assess the impact on their customers and in turn pass on appropriate financial supports directly to their customers.
- The financial supports, such as refunds or discounts, applied by each insurance company will reflect their individual claims experience to date.
- If extended Covid19 restrictions on movement result in sustained lower road usage and claims frequency through the summer and beyond, insurers have agreed to further review the situation.
