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.
Marsh McLennan Agency to Buy Fisher Brown Bottrell for About $316M 
Dubai Floods Expose Weaknesses to a Rapidly Changing Climate 
AIG General Insurance Chairman McElroy to Retire May 1 
4,800 Claims Handled by Unlicensed Adjusters in Florida After Irma, Lawsuit Says 
