A total of 11,502 complaints were made to firms providing motor insurance in Ireland in the second half of 2016. Of those, 52 per cent were related to pricing, according to data released by the Central Bank.
The number of complaints in the latter half of last year represented only 0.5 per cent of live policies during that period and 99 per cent of the complaints were resolved within 40 days – a requirement under the 2012 consumer-protection code.
In Ireland, 24 motor insurance companies are currently in operation. Nine of those are incorporated here and they provide 62 per cent of policies to Irish consumers. Four companies are incorporated in the UK and have branches in Ireland and the remaining 11 provide insurance here on a freedom-of-services basis.
Total redress in respect of complaints between the start of June and the end of December last year of €9,834 was paid. That redress was paid in respect of 44 motor insurance claim complaint cases – only 0.38 per cent of overall cases.
While pricing led the charge in terms of complaints, more than 2,300 complaints pertained to customer service and 716 related to the handling of motor insurance claims.
More than 2.1 million motor insurance policies were extant in the Republic in the second half of 2016. They commanded total premiums of €1.02 billion.
