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Tue 09 Sep 2008Warning that insurance premiums may rise 20%
INSURANCE PREMIUMS are set to rise by up to 20 per cent because of the turmoil in international markets, according to the Irish Brokers' Association.
The association's chairman Canice O'Reilly said rising re-insurance costs and the increasing frequency of damage claims would also contribute to rising premiums over the next year. Premiums had fallen by up to 45 per cent over the past five years and the market was at an all-time low, he said.
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