• The new Motor Insurance Transparency Code is a positive step, helping motorists better understand what drives their premium and the market conditions behind it.

• With premiums still rising, transparency must also drive accountability and competition; it cannot become a box-ticking exercise that leaves consumers better informed, but no better off.

The Alliance for Insurance Reform today welcomed the Government’s publication of a Motor Insurance Transparency Code, which is intended to improve openness and consistency in how motor insurance premiums are explained to consumers.

Helping motorists understand the key factors that influence pricing and the market conditions that shape premiums is a positive step and aligns with the wider programme of reforms introduced by successive governments to improve affordability for consumers.

With premiums still rising, transparency must drive accountability and competition; it cannot become a box-ticking exercise that leaves consumers better informed, but no better off. The Code must not be used simply to rationalise continued premium rises.

Tracy Sheridan, owner of Kidspace play centres in Rathfarnham and Rathcoole and a Board member of the Alliance, said: “The Code will initially be judged by how it educates and informs motorists. Over time, though, it will also be judged by what this information does for motorists – will it help drivers get a better deal? Does it make switching easier and more effective? It will not simply be about whether it improves communications, but whether it improves competition.”

She continued: “The Alliance recognises the sharp increases in repair costs in recent years. However, it has not been a one-way street. Significant government reforms have reduced costs and risk elsewhere in the system—including removing and reducing insurance levies, more claims are settling under the Personal Injury Guidelines, and there has been a significant reduction in uninsured driving since 2022. Consumers are entitled to expect these savings to feed through to premiums.”

Ms Sheridan concluded: “The focus will be consistent implementation across the market. That means premium summaries that are genuinely comparable between providers, and issues raised by consumers being addressed quickly. The Code should be kept under active review and strengthened where the evidence shows it can better support switching and downward pressure on premiums.”

—ENDS—

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

Notes:

1. The Alliance for Insurance Reform brings together 48 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.
2. Premiums: +9% to €623 (2023 → 2024)
   Central Bank of Ireland press release announcing the Seventh annual Private Motor Insurance Report (NCID) states that the average written premium per policy increased by 9% to €623 between 2023 and 2024. CSO data advises that premiums have continued to increase in 2025. 
3. Uninsured private vehicles “almost halved” (2022 → 2024, IMID analysis)
   MIBI analysis published on the introduction of the Irish Motor Insurance Database (IMID) reports that the percentage of uninsured private vehicles on Irish roads “has almost halved” following the new detection system (4.2% of the private fleet in 2024, down from 8.3% in 2022). 
4. ICF levy reduced from 2% → 1% from 1 January 2026
   Central Bank of Ireland press release confirms the Insurance Compensation Fund levy reduced from 2% to 1% with effect from 1 January 2026.
   Department of Finance press release (30 Dec 2025) also confirms the 1 January 2026 effective date and sets out the Government expectation that reductions are reflected in renewals. 
5. Personal Injury Guidelines usage increasing in settlements
   Central Bank NCID Private Motor Insurance Mid-Year 2024 Settled Claims Data Release states that 65% of claims settled in 2023 and 75% in H1 2024 settled under the Personal Injury Guidelines; it also notes the proportion of litigated claims settling under the Guidelines increased from 10% (H2 2022) to 46% (H1 2024).