Motor insurance premiums set to fall
Motor insurance premiums are likely to come down in the latter half of the year.
That's according to a Junior Finance Minister who has been meeting with a number of providers.
It's after the Judicial Council approved guidelines that will mean pay-outs for personal injury claims will be significantly reduced.
Minister Sean Fleming says insurers have indicated that premiums will decrease from June.
"The cost to the insurance companies will now go down, and that should be passed on to the public.
"They've all said they're going to start doing it early in the second half of this year after June.
"I'm hoping this will be the start of further reductions to come when new reduced payouts actually fully take hold in the coming months and into early next year."
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