Premiums rise to hit hauliers hard
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• Hard-pressed hauliers could be paying at least 10% more for insurance from next month, with two of the country's leading transport insurers announcing that they are to increase their premium rates.
Norwich Union and Eagle Star's move follows a warning from the Association of British Insurers last week that insurance firms will have to increase premiums to recoup £5 billion worth of losses last year because of increased theft, storm and flood claims.
Norwich Union will increase its comprehensive premiums by 10% and its third party, fire and theft premiums by 5%. Goodsin-transit cover and green cards are not affected.
Eagle Star increases will be about 9%. Green cards will not be affected, but goods in transit premiums might be.
A director of Wigan-based broker GA Bowman Hunter says: "Hauliers will be lucky to get away with a 15% increase this year."