‘The Alliance for Insurance Reform welcomes the publication of the Government’s new Action Plan on Insurance Reform’

• • Policyholders should not have to wait a day longer to see meaningful and sustained reductions in their premiums.

• For liability claims, we have seen substantial reductions in the volume of claims and size of awards and yet, in the context of record-level insurer profits, it is wholly unacceptable that insurance premiums have not come down.

The Alliance for Insurance Reform welcomes the publication of the Government’s new Action Plan on Insurance Reform. Whilst more time is needed to study its proposals in detail, we want to positively acknowledge this and the previous government’s sustained commitment to delivering a fairer and more affordable insurance market for motorists, businesses, sports, community and voluntary organisations. 

The last administration delivered an exceptional programme of reform, the benefits of which can be seen in recent reports from the Central Bank and the Injuries Resolution Board. For liability claims, we have seen substantial reductions in the volume of claims and size of awards and yet, in the context of record-level insurer profits, it is wholly unacceptable that insurance premiums have not come down. 

Policyholders should not have to wait a day longer to see meaningful and sustained reductions in their premiums and any attempt to use today’s action plan as reason not to pass on existing savings, must be pushed back strongly against by government. 

—ENDS—

FOR FURTHER INFORMATION CONTACT: contact@insurancereform.ie or Alliance CEO, Brian Hanley at 086 8620 974.

Notes:

• The Alliance for Insurance Reform brings together 47 civic and business organisations from across Ireland, representing over 55,000 members, 700,000 employees, 614,000 volunteers and 374,000 students in highlighting the negative impact of persistently high premiums and calling for real reforms that will quickly reduce liability and motor insurance premiums to affordable levels and keep them that way.

1. The most recent NCID liability report from the Central Bank published in March 2025 found that premiums increased by 4% in 2023 and have increased by 17% since 2020, despite a range of government reforms. The liability market has also proven highly profitable for insurers, showing an operating profit of 13% in 2023 (2.5 times greater than international norms).
2. The Injuries Resolution Board Annual Report 2024 found:
   1. More than €76 million has been saved in avoided legal costs in 2024 alone. 
   2. Claim volumes remained 33% lower than 2019 levels, reflecting the continued impact of the Personal Injuries Guidelines.
   3. Acceptance rates grew again to 50% up from 48% in 2023.
   4. In 2024 there has been no increase in claims in public liability and a 5% decrease in employer liability. 
3. The Central Bank’s NCID mid-year liability report for H1 2024 found that the cost of settling liability claims is down a further 10% in just the first six months of last year alone. 
4. Findings from the Alliance’s Q1/Q2 insurance survey of 775 SMEs, sports, community and voluntary organisations, evidencing continuing increases in liability premiums – Alliance releases 2025 Insurance Survey Finding – Alliance for Insurance Reform.