Representatives of small businesses have appeared before the Oireachtas Finance Committee to highlight the difficulties in securing public liability insurance amid a climate of spiralling costs.
The owner of a children's play centre in Navan, Co Meath, told the committee she will be forced out of business within weeks, because she has not been able to get her premises insured.She said she is no longer able to get her premises insured, and now has just 25 days before her current policy expires.
Ms Murray said the "reserve on this is €23,000, even though the child didn't suffer any injury". She said this was the only reason she was unable to get insurance. ISME is calling for the reform of the insurance industry to be "personally led by a Cabinet minister" and preferably Minister for Justice Charlie Flanagan.
It said the only reforms currently taking place were "administrative in nature" and would not materially reduce the cost of insurance. It added that there was currently less information available on the insurance industry than there had been five years ago. Spokesperson Peter Boland told the committee that firms were "closing on a weekly basis" due to "savage increases in liability insurance renewals".
Irish Judges also are the most generous in the world....One gives €10000 another gives €30000 for same injury....There needs to be a book of quantum that judges have to follow....
Just like the car scam insurers too ! I thought EU was common market why do I have to insure my car in Ireland