Fianna Fáil TD for Mayo Dara Calleary has questioned if the government understand the serious financially pressures small businesses face as insurance costs continue to rise.
Deputy Calleary said “Small businesses, farms, marts and festivals are being hammered by increasing insurance costs, particularly business insurance costs. In my own constituency in Mayo small business owners are struggling to meet rising costs.
“This problem is country wide. One case in Navan involves a lady who runs a centre employing 12 people that hosted 20,000 children last year. Her costs have gone from €2,000 in 2012 to €16,000 in 2018 without a claim. She is being advised that she cannot get a quote in 2019.
“There is knock on consequence in local communities up and down our island. I am aware of 75 festivals, marts and small businesses throughout the country that have gone to the wall. The numbers of businesses which will go bust as a consequence of rising insurance costs will only rise mimicking the premiums sending them under.
“The chaos in the insurance industry appears to be another example of rising costs which the government are missing with their heads buried in the sand. One tangible action the government can take is to publish a new book of quantum. Communities and business need action taken now,” concluded Deputy Calleary.