Motor Insurance Policies set for an increase.
Every motor insurance premium in Ireland could be facing an increase of over 40 euro, as a result of a High Court ruling today.
The Court says that a fund run by existing insurers should be responsible for claims made against the collapsed Setanta Insurance.
The fund usually deals with claims worth around 60 million euro a year - and results in an extra cost of 30 euro per premium.
But today's ruling means the fund will have to cover claims against Setanta, which could be worth 90 million.
Michael Horan of Insurance Ireland, which represents the Irish insurance industry, says the ruling could see premiums rise by 45 euro or more:
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