Search Results for 'insurance premiums'

Communications Co-Ordinator, Galway Community Circus

Hoteliers in Mayo are calling on the Government to take urgent action to address the spiralling cost of insurance, which is posing a serious challenge for the local hospitality industry.

Spiralling insurance costs, which are being fuelled by the "claims culture", especially excessive levels of awards and fraudulent and exaggerated claims, are having a major knock-on effect on the local hospitality industry, according to the Irish Hotels Federation (IHF).

Fianna Fáil TD for Roscommon/Galway, Deputy Eugene Murphy, has warned that many businesses, sporting clubs, festivals and community events are on the brink due to crippling insurance costs and every tool must be used to try to bring down insurance premiums.

Insurance premiums remain the number one financial concern for Irish motorists according to the latest Motoring Report from car buying experts Carzone. Fuel was the second biggest concern, followed by motor tax.

The latest figures from the leading stolen vehicle recovery provider, Tracker, act as a stark winter warning to motorists. In the last year more vehicles were stolen with keys in the autumn and winter months compared to spring and summer. On average nearly a third (32 per cent) were stolen with keys during the darker months, compared to 24 per cent for the rest of the year.

Fianna Fáil Spokesperson on Finance, Robert Troy, says figures released by the Central Bank last Friday morning (July 21) contradict assertions by the insurance industry that spiralling motor insurance premiums can be put down to the increasing cost and frequency of claims.

The Construction Industry Federation (CIF) has warned that spiralling insurance premiums are adding to construction costs.

Fianna Fáil TD, Robert Troy, says the insurance premiums being applied to business, home, public, and motor insurance customers are now unsustainable and called for urgent government action to tackle the problem.

Deputy Peter Burke (FG) has welcomed the publication of the Report on the Cost of Motor Insurance by Minister for Finance, Michael Noonan and Minister of State for Financial Services, Eoghan Murphy.