A report by a firm of actuarial consultants, commissioned by the Irish Insurance Federation, has found that young, inexperienced male drivers pose the greatest risk of all motor insurance policy holders.
The report, by Tillinghas Towers Perrin, evaluated the riskiness for each insurance category by analysing claims frequency and average cost of claims.
The IIF had earlier this year disputed findings by the Motor Insurance Advisory Board that young drivers produced larger profits for the industry than most other categories.
Chief executive Michael Kemp said the report vindicated its position, adding that the motor insurance market recorded a net underwriting loss of £126m in 1999.
