Insurance premiums set to jump 15%

INSURANCE premiums are likely to increase by up to 15% having already soared around 20% over the last year.

The is according to FBD chief executive, Andrew Langford, who said because his company took early action by increasing premiums in early 2008 any further FBD premium increases will be “less severe than likely increases elsewhere”.

He said FBD has no immediate plans to increase premiums, but he does, however, expect premiums to rise by between 10% and 15% in the overall insurance market over the coming year.