On-trade

Insurance rises averaging 204% since 2015 – AIR

A members survey from the Alliance for Insurance Reform has found that its members’ insurance costs have risen by around 204% on average since 2015.

 

 

 

 

Businesses in the hospitality sector comprise just over one-fifth of AIR’s membership and the survey found some 29% responding that their insurer had increased excesses while 12% found they’d added new exclusions to their policy and 23% responded that their insurer had done both. Another 37% responded that their insurer had done neither.

The impact of these rising insurance costs is threatening the future of the organisations concerned in nearly half the cases (48.6%) and inhibiting AIR members’ ability to grow in 46% of cases.

It’s preventing organisations from providing certain services for members in 33% of cases and making jobs less secure in 26% of cases, with 10% stating that it’s having no impact.

A resounding 95% don’t believe that the Government is doing enough to address the issue of insurance costs.

The online survey was conducted by AIR between 9th May and 2nd June 2019.

 

 

Sign up for Drinks Industry Ireland

Get a free weekly update on Drinks Industry trade news, direct to your inbox. Sign up now, it's Free