The Vintners’ Federation of Ireland (VFI) has welcomed today’s launch of the Alliance for Insurance Reform, saying the initiative is badly needed in the face of the unprecedented escalation in insurance costs.
According to Padraig Cribben, VFI Chief Executive, publicans have experienced substantial increases in their premiums over the past two years.
He says: “VFI members are facing a situation where insurance costs are rising by, in some instances, over 40%. Personal injury claims lodged against publicans is one of the primary reasons put forward as justification for the increases. However there is little transparency with insurance companies on these claims.
“We conducted a survey conducted that revealed 88.3% of members have seen an increase in insurance in the past two years.”
The VFI Chief Executive says his organisation supports the demand of the Alliance for Insurance Reform.
“There is an urgent need to introduce transparency to how premiums are calculated. We also require more information as to how, why and when claims are settled,” he said.
“We are also calling for awards to be calculated on a consistent basis while payments should be realistic,” he added.
The Alliance for Insurance Reform brings together 18 civic and business organisations from across Ireland, representing 35,000 members, over 620,000 employees and 41,300 volunteers to demand action to end crippling insurance premiums.
The Alliance is a response to countless stories from small organisations where services and jobs are being damaged by excessive insurance costs.
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