There have been widespread calls for insurance companies to give both partial refunds and indeed cheaper premiums going forward as a result of the coronavirus outbreak.
The Minister for Finance Paschal Donohoe has called on the country’s motor insurance companies to issue partial refunds to customers during the Covid-19 outbreak.
Speaking on Friday Donohoe said that insurance companies should consider offering a rebate given the reduction of claims following social distancing measures.
The Finance Minister stated that the majority of people were staying at home and but were still paying for their full premium.
Although Insurance Ireland acknowledged Donohoe’s statement, they said no decision has been made in regards to rebates at this present time.
They added that they will continue to monitor the situation both here and in other European countries.
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