It’s high time the insurance industry help their customers out, and with a very slim silver lining, because of coronavirus, it appears as though they now have to.
Motor insurance companies are to issue premium discounts or refunds due to the Covid-19 outbreak.
It is understood the decision comes after the Minister for Finance Paschal Donohoe suggested last week that motorists should be given a discount due to the decrease in claims since the outbreak began.
In a statement released today Insurance Ireland said that most companies have signed up to the plan and will look to offer some sort of discount.
However they reiterated that any potential refund or premium discount will depend on the insures range of customers, pricing plans and their claims experience.
It is understood that companies such as Allianz, AXA, FBD, RSA and Zurich have agreed to the proposals.
Although Aviva have yet to agree to the recommendations set out on Friday.
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