Consumers face €300 premium hike over Quinn losses

HARD-PRESSED consumers face paying up to €300 more a year for their insurance in order to shore up the €600 million black hole in the Quinn Insurance Group.

It is feared a levy of up to 2% may be imposed after the Quinn group yesterday posted losses of €706m for 2009.

Further losses totalling €160m are also forecast for 2010 and relate to business undertaken in Britain just before the appointment of administrators to the company last year.