FBD premiums to rise due to floods

FBD, the country’s second largest general insurer, has warned that increases of up to 10% for some general insurance products are on the cards due to the rising cost of claims.

FBD said it was hit with a bill of €28 million following the bad weather from November through to the New Year.

The total cost of claims over the period was substantially higher than the €330m incurred across the previous 10 years, FBD said.