AVEA attends Insurance Round Table Discussion at Department of Finance
Insurance is a top-five concern for AVEA members, with premiums – on average – increasing by 11% annually.
Given the recent judicial guidelines on the duty of care, and a reported decline of one-third in claims, members might well expect to see reductions in premiums, but these have yet to materialise.
An absence of competition in the market is problematic. A small number of tourism representative associations, insurance providers, and independent insurance bodies were invited to meet Ministers Neale Richmond and Dara Calleary in the Department of Finance for a candid exchange of experiences and views.
Thank you to both Ministers and the Department for setting up the meeting, and for recognising that insurance is a critical and costly issue which, despite some reform, shows no sign of abating.
