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HomeNewsInsurance costs put big strain on business

Insurance costs put big strain on business

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CALLS for criminal proceedings to be brought against insurance fraudsters and for insurance companies to explain themselves over the spiralling costs of premiums came from the Limerick local authority this week.

Deputy Mayor Adam Teskey (FG) tabled a motion calling on Justice Minister Charlie Flanagan to establish a Garda insurance fraud unit and an Interim Judicial Council to address excessive court awards.

He also called for โ€œgreater transparency in relation to claims and premiums.โ€

Emmett Oโ€™Brien, Independent. Photo: Cian Reinhardt

โ€œWe are seeing community organisations crippled. Businesses are trying to keep afloat and are finding it extremely difficult.โ€

Cllr Emmet Oโ€™Brien (Ind) said that it would be wrong to suggest that people who suffer genuine injury should not be compensated โ€œbut this is affecting everyoneโ€.

He said that a local regatta had to be cancelled because of insurance costs.

Cllr Kevin Sheahan (FF) said that the insurance companies have become โ€œanti-jobsโ€.

โ€œThe shutters are coming down on businesses all over Limerick because of it. One lady who runs a tourism business told me that her premium went from โ‚ฌ20,000 to โ‚ฌ40,000 and that doesnโ€™t cover her to make a cup of tea. She wanted to offer tea and coffee to people visiting and she was told she couldnโ€™t do it.โ€

Cllr Richard Oโ€™Donoghue (Ind) said that a man who had โ€œten years of no claims on his insurance had a huge hike and when he asked why, he was told that statistically, he could be a danger. If they are going to use statistics use them to find those people who are serial claimers.โ€

Cllr John Sheahan (FG) said there โ€œshould be some sort of national insurance scheme for young drivers to help them get started.โ€

He added that the for-profit insurance companies โ€œare charging what they likeโ€.

Bernie English
Bernie Englishhttp://www.limerickpost.ie
Bernie English has been working as a journalist in national and local media for more than thirty years. She worked as a staff journalist with the Irish Press and Evening Press before moving to Clare. She has worked as a freelance for all of the national newspaper titles and a staff journalist in Limerick, helping to launch the Limerick edition of The Evening Echo. Bernie was involved in the launch of The Clare People where she was responsible for business and industry news.
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