Homeowners Premiums in Ireland to Increase

February 26, 2001

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.

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