Every motor insurance premium in Ireland could be facing an increase of over €40, 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.
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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.
