Home insurance premiums are expected to increase by as much as 30 percent this year as building costs push up underwriting losses from weather-related claims.
Royal and Sun Alliance, with a 28 percent market share in Ireland, will meet with brokers this week to brief them on plans to increase premiums. Other insurers are expected follow suit.
Royal and Sun blamed the price hike on the strength of the economy and increases in the cost of settling claims.
Topics Trends Pricing Trends Homeowners
Was this article valuable?
Here are more articles you may enjoy.
Claimants of 23andMe Data Breach to Get $46.75M in Settlement Deal 
Storage Shed Caused Nashville Parking Garage Fire, Travelers Says in $10M Subro Suit 
US P/C Industry Records $16 Billion Underwriting Income in Q1 
Acrisure Goes After Former Owners of Businesses it Acquired for Leaving to Compete 
