Ireland's Department of Finance confirms motor insurance transparency code will cover 2.2 million policies as firms representing 98% of premiums begin implementation

Ireland's Department of Finance has confirmed that insurers and intermediaries representing 98% of Ireland's private motor market by gross written premium have begun implementing the Government's Motor Insurance Transparency Code, bringing 2.2 million private motor policies into scope. Published on 2 March 2026 as a priority action under the Action Plan for Insurance Reform 2025–2029, the code is designed to give consumers clearer explanations of how motor insurance premiums are calculated. Developed by a working group of insurers and intermediaries with support from the Department of Finance and the Central Bank of Ireland, the code introduces a Premium Summary Statement at quotation and renewal showing the previous premium, the new premium, the difference and the main pricing factors, and an Annual Market Overview Statement explaining broader market influences on pricing. It also requires plain-language communications, risk-mitigation guidance, an online glossary, staff training, a designated senior executive responsible for compliance, and general reasons for declined applications with guidance on next steps. Rollout is being phased in through updated documentation, training and governance changes, with policyholders expected to start seeing the new disclosures in quotation and renewal documents from July 2026. The code aligns with disclosure and customer information requirements under the Central Bank of Ireland's revised Consumer Protection Code, which took effect on 24 March 2026. The first review will take place within 18 months of implementation. The Central Bank of Ireland will report to the Minister for Finance on firms' adherence to the code and its impact.