Insurance costs for businesses
Deputy Collins raised insurance costs and the threat to a west Cork business. The Taoiseach said the Government accepts premiums are too high and that work is under way to reduce them.
On page 41 of the programme for Government, under the heading Jobs and Rural Development, it was promised: "As the economy recovers it is essential that the new Government, together with the Oireachtas, puts in place measures to revitalise all of Ireland so that the benefits are felt inside every doorstep and in every community."
The reality is that many businesses are facing many problems and possible closures because of insurance problems. I raised West Cork Secret near Kilbrittain, a hugely popular activity centre in west Cork, with the Taoiseach this time 12 months ago. This centre is a great employer. Last year its insurance went from a couple of thousand euro to €20,000. Worse has now hit it and all activity centres throughout the country, as many activity centres and community-run playgrounds cannot get an insurance quote. When will our Government resolve the insurance crisis that is putting businesses and community groups under enormous pressure in this country?
Comment on this
I obviously cannot comment on the individual circumstances of the particular business the Deputy has mentioned. As a Government we have acknowledged the very high cost of insurance, particularly public liability insurance, for businesses and how it impacts on them. It is a private market, of course, and insurance policy premiums have to match the risk. The Minister of State, Deputy D'Arcy, has been working very hard on proposals to reduce insurance costs and has seen some good success, with motor insurance costs coming down since 2016 and health insurance stabilising. There will now be a big focus on commercial insurance and public liability insurance.