Research conducted by Find The Way Consulting indicates that premiums increased by more than 5% in the 3 months to July 2016 and by more than 20% over a 12 month period.
This research uses a basket of ten private car risks. Quotations for each risk profile are obtained every month from the Northern Ireland broker market.
The purpose of the research is to track rate changes applied by some of the larger insurers in the broker market.
Commenting on the research, Martin McRandal from Find The Way Consulting stated “This sharp increase in premium mirrors trends reported in both Great Britain and Republic of Ireland, though the reasons for increase differ somewhat.”
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First published on LinkedIn 7th July 2016