PREMIUMS: The outlook is quite depressing in the motor and home insurance market. Forecasts of large increases in premiums have proven to be correct and rates are expected to keep rising this year, by 20 to 50 per cent.

There is little likelihood of any new players entering the market - if anything, the industry is talking up the prospect of insurers withdrawing from the loss-making motor insurance sector. Last year the Irish Insurance Federation (IIF) warned that companies could not continue to absorb such unsustainable losses.

The IIF has argued that the only way to bring down the cost of motor premiums is to tackle claims' costs. This can be done by reducing legal fees, the frequency of accidents and the level of compensation awards.

The setting up of the Personal Injuries Assessment Board, if it happens this year, would be a start.

With increasing premiums across the board, it is more important than ever to shop around when renewing or starting cover.

The internet is the easiest way to look for information and quotes for insurance products.

Brokers can also save you the time and trouble of trawling the market.

There are some websites that are worth a visit. These include: insure.ie for online motor quotes; 123.ie for general insurance; getcover.ie for travel insurance; and labrokers.ie for life and mortgage protection quotes.

Anyone taking their business to an insurance intermediary can expect to be presented with a lot of written material before a life or investment product is sold, thanks to the Central Bank's new regulatory regime.

Brokers will be required to provide clients with a "Statement of Suitability", outlining the reasons why the purchase of a particular financial product is considered to be in the best interests of the client.