Says we now have 19 State reports which highlight the need for urgent insurance reform

The Alliance for Insurance Reform has welcomed the publication of the Government’s Report of the SME Taskforce: SME and Entrepreneurship Growth Plan.

Key insurance-related recommendations in the Report include:

  • Dramatically reduce the cost of EL & PL insurance via measures targeted at the cost of claims and the duty of care.
  • Encourage greater competition by seeking out additional multinational underwriters to supply the Irish market.
  • Develop best practice health & safety training for SMEs via Skillnet.
  • Creating a process for attracting EU operators to the Irish market and/or encourage Irish players to provide insurance services for SMEs.

Peter Boland, director of the Alliance said “While we welcome the content of this report and will obviously engage with its implementation, we now have 19 reports from the State in the last 4 years which highlight the need for urgent insurance reform. The success of this report will be measured by the actions that follow and how quickly they happen.“

Tracy Sheridan, owner of Kidspace play centres in Rathfarnham and Rathcoole and director of the Alliance said “The Irish economy is not going to recover from Covid-19 through SMEs unless insurance is sorted because insurance costs remain an existential issue for Irish SMEs.”