Insurance costs

  • An All-Ireland winning hurling star has been forced to close down his fitness club after an insurance claim sent his premium soaring to €20,000.

    37-year old Colm Callanan, who retired from the Galway inter-county team last November and took up a coaching position with the squad, had run the Callanan Fitclub in Kinvara with his sister Colleen for the past six years.

    The club had about 100 members who took part in group classes and training while receiving advice on nutrition and exercise plans.

    Mr Callanan, who is married with two young children, also worked with Kinvara GAA club and Foróige as he passed on his experience in the field to local youth teams.

    But the Irish Independent reports that he was left reeling in April 2018 when someone using the club lodged a substantial claim against it.

    When he tried to renew his policy the following year, the reserve on his insurance meant he was receiving quotes of up to €20,000, when previously he had paid around €1,800.

    Mr Callanan said he hit a dead end when he shopped around for a better quote, and now believes there is no competitiveness in the sector any more.

    He says small businesses just cannot sustain the cost of insurance.

    The Kinvara native eventually made the difficult decision to pull the plug on the business around three weeks ago in a move that he said was "devastating".

     

     

     

     

  • The Co Sligo village of Gurteen has seen its playground close in recent days, due to difficulties in obtaining insurance cover.

    The community playground opened two years ago, following a local fundraising campaign.

    However, the company which was providing insurance is withdrawing from the Irish market, and the playground operators are finding it difficult to get cover.

    One quote was in the region of €20,000.

    Local Fianna Fail Councillor Paul Taylor says it's very disappointing that a lock went on the playground gate on Sunday evening....

  • Creches, nightclubs, marts and other businesses across the country are closing down because of the massive increases in public liability and business insurance.

    That's according to Mayo TD Dara Calleary who told the Dáil yesterday that, in the case of one childcare facility, insurance had risen from €2,000 in 2012 and €16,000 last year, and this year the owner cannot get a quote, putting 12 jbs and a 7-year old business at risk.

    The Fianna Fail deputy leader said the personal injury awards made in this country is a major issue.

    Deputy Calleary said 75 community festivals have shut down because of increased insurance costs, and claims nothing is being done to tackle the issue.

    The Mayo TD said legislation is not being pursued on the issue, and he called on the Government to publish a new book of quantum - general guidelines on the amounts that can be awarded in personal injury claims - which he says are four times higher here than in the UK.

    Tánaiste Simon Coveney responded that the Government was well aware of the difficulties facing businesses, and said the working group chaired by the Finance Minister Pascal Donohue is working through the recommendations of ongoing reports.

    Minister Coveney said the Government is determined to deliver the kind of results for small businesses that they delivered for motor insurance.