Fianna Fáil TD for Sligo-Leitrim Eamon Scanlon is warning that jobs and businesses in the North West could go as a result of high insurance costs. Fianna Fáil has brought forward a Dáil debate this week to highlight the issue and to put pressure on the government to take action to address it.
Deputy Scanlon, “There is no doubt that business insurance costs are threatening the viability of businesses across Sligo, Leitrim and Roscommon. There are two companies in south Sligo – a haulage business and a small hotel, which have seen their insurance premiums rocket over the past number of years. The haulage company employs 45 people and is facing insurance costs this year of €135,000. That is unsustainable. Similarly, the hotel, which paid an insurance premium of €30,000 last year has now received a bill of €65,000 this year.
“These huge price hikes are being replicated right across the country but the government has done very little to address the issue. Since the publication of the report on the Cost of Employer Liability (EL) and Public Liability (PL) there has been a lack of action –with many of the recommendations in the report not set to be completed until 2019. This is putting jobs and businesses at risk.
“It’s about time the government started taking this issue seriously. It took pressure from Fianna Fáil to embarrass the government into taking action on rising motor insurance costs, and despite a working group being set up, I have been inundated with people contacting my office with exceptionally high insurance premiums. These are people over the age of 30, with no penalty points and a full no claims bonus, who are still being hit with large premium hikes. This makes no sense.
“I would like to see representatives from these insurance companies brought before the Oireachtas Finance Committee to explain these price hikes.
“The government needs to urgently complete the action points in the report on the Cost of Employer Liability and Public Liability insurance. We are also calling on the Government to implement all of the recommendations in the Report on the Cost of Motor Insurance.
“The increases in insurance premiums that we have witnessed over the past number of years are unsustainable and will cost jobs. The current inaction cannot be tolerated any longer and I hope this motion will spur the government into taking this issue seriously”.