The Irish government has confirmed that more than 2 million motor insurance policyholders will benefit from the introduction of the Motor Insurance Transparency Code, a key measure under its Action Plan for Insurance Reform 2025–2029. The code aims to improve clarity and consumer understanding around how insurance premiums are calculated and communicated.
Developed through collaboration between insurers, intermediaries, the Department of Finance, and the Central Bank of Ireland, the code is already being implemented by major market participants, covering approximately 98% of the private motor insurance sector. As a result, around 2.2 million policyholders are expected to gain clearer insights into their insurance pricing.
The initiative introduces new mechanisms to improve transparency, including detailed premium breakdowns and explanations of market conditions affecting pricing. These measures are intended to strengthen trust and enable consumers to make more informed decisions when purchasing or renewing policies.
Implementation is being rolled out gradually, supported by updated documentation, staff training, and governance measures. Policyholders are expected to start receiving enhanced information in their insurance documents from the third quarter of 2026.
The code aligns with updated consumer protection requirements introduced by the Central Bank earlier in 2026, reinforcing obligations for insurers and intermediaries to communicate clearly with customers. Authorities will continue to monitor implementation, with a formal review planned within 18 months to assess its effectiveness and industry compliance.
