29 Jun 2022

Long overdue duty of care reforms must result in reduced premiums for policyholders -  TD

Long overdue duty of care reforms must result in reduced premiums for policyholders -  TD

Donegal TD Pearse Doherty TD has welcomed news that cabinet has approved the drafting of amendments to rebalance the duty of care.

But the Sinn Féin spokesperson on Finance was quick to point out that it was almost one year after the government’s own deadline for this action. He has now called for reforms that ensure premiums are reduced for struggling policyholders.

He said:

“Rebalancing the duty of care is crucial to ensure businesses and voluntary groups can access affordable insurance.

“Despite promises by government, the insurance market for small businesses, community and voluntary groups remains in a state of crisis, with many unable to access affordable cover.

“This is threatening the very survival of so many small businesses and sectors across the State.

“The government’s own Action Plan for Insurance Reform committed to making proposals to cabinet to rebalance the duty of care by June 2021.

“That deadline has been missed again and again.

“The news that the government has approved proposals to rebalance the duty of care through changes to the Occupiers’ Liability Act is welcome but long overdue.

“Despite the Personal Injuries Guidelines being in place for more than a year with a significant drop in personal injury awards, insurance premiums for small businesses have continued to rise.

“The government has even delayed my own legislation that would hold the industry to account in passing these savings onto their customers.

“This legislation is now before the Finance Committee and the government should change its position and support it.

“There is no more time for delay.

“It is now crucial that these proposed changes are meaningful and effective, resulting in reduced premiums.

“Sinn Féin will scrutinise these changes once they are published to ensure that small businesses, community and voluntary groups see the changes they desperately need and, crucially, that they benefit from them.” 

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