FBD chief executive Fiona Muldoon has warned that insurance for farmers may increase in the short term.

Farm insurance, which includes farm buildings and tractors, has not increased in 2017, she said, but it may do to cover increased costs.

Muldoon added that fierce competition has kept a cap on price increases to farmers to date and that it was not the most profitable part of the business.

As a result of more farm accidents, there was an increasing number of large claims and she emphasised the importance of farm safety.

Read the full interview with FBD chief executive Fiona Muldoon here.

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