Householders facing cost of flooding
HOUSEHOLDERS can expect to pay more for home insurance, said FBD Insurance yesterday, as the insurance industry counted the cost of last month's flooding.
In an interim management statement for the third quarter, FBD said the flooding cost the industry in the region of €125m and premium rates are likely to increase as a result. FBD itself took a hit of about €6m.
The news of higher premiums partially obscured a strong trading statement from the company, whose share price surged after it increased its guidance and said volumes were up for the first time since 2008.