Mattie McGrath: Insurance crisis crippling small businesses
Mattie McGrath raised concerns in the Dáil about the cost and unavailability of insurance for businesses, farmers and community and voluntary organisations, saying it is having a massive societal and economic impact. He argued insurers are withdrawing cover, small employers cannot afford claims and premiums, and that legal awards must be recalibrated downward.
Main concerns
He told the minister the whole issue of the costs and the unavailability of insurance to business, to farmers, to community organisations and voluntary groups is having a massive impact on society. He highlighted social farms, community activities and farm initiatives that people use to augment incomes and to provide information, entertainment and value to the public.
Impact on small employers and communities
He warned that small employers cannot afford rising claims and the cost of insurance, that in many cases people cannot even get a quote, and that the problem permeates every sector. He said the situation is crippling the economy and entrepreneurial people who want to provide jobs.
Examples cited in debate
He cited a company in England that had withdrawn from the market insuring bouncy castles as an example of cover being pulled. He also used the phrase "Ripoff Ireland is live and well here and the balusters are creaming off" to describe perceived profiteering by insurers or intermediaries.
Judicial response and recalibration of awards
He noted the Chief Justice announced seven judges designate who will take forward a recalibration of personal-injury guidelines, with two from the Circuit Court, two from the High Court, one from the Court of Appeal, one Supreme Court judge and one from the District Court. He argued the recalibration should bring awards downwards in line with other jurisdictions and Court of Appeal awards, saying the era of small damages attracting massive awards must end.
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Minister, I want to raise today, and you should know this well in your portfolio, the whole issue of the costs and the unavailability of insurance to business, to farmers, to community organisations and voluntary is having a massive impact on our society and we have social farms, Deputy Heade, we have community activities, we have farm activities that people have gone into to augment their incomes and giving very vital information and entertainment and value to the public. A company in England where we are insuring all the bouncy castles, they have withdrawn from the market. Ripoff Ireland is live and well here and the balusters are creaming off and unfortunately small employers, like one myself, cannot afford the claims and the cost of insurance and in his worst article it will be told that you can't get a quote, that you won't even be quoted for many years, across society, it permeates in every sector and it is crippling our economy, our country and it is crippling entrepreneurial people who want to provide jobs. I am not sure if you heard yesterday where the Chief Justice announced the seven judges designate who will take forward the recalibration of the guidelines, the biggest issue we have in Ireland is that people have small damages and they look for massive awards, that era has to end and it is ending now, I am not sure if you will, pardon me, Deputy, do you want the answer or do you want, just listen, just listen, okay, you don't have to be so ignorant all of the time. So what's happening now is, I said you don't have to be so ignorant all of the time. So what's happening now is the seven Justices, two from the Circuit Court, two from the High Court, one from the Court of Appeal and one Supreme Court and the last Justice from the District Court will recalibrate the guidelines, the awards downwards in line with other jurisdictions and in line with Court of Appeal awards. .
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