Musgrave, Ireland’s leading food retail, wholesale and foodservice company, has called on the Government to fast track a suite of measures required to tackle high insurance costs in Ireland. Musgrave supports over 1,000 independent retailers in Ireland.
A spokesperson for Musgrave said “Saturday’s report from the Judicial Council will have to be examined in detail by the many retailers who have borne the brunt of rising insurance premiums in recent years. It may take some time before we see if the new guidelines bring Ireland in line with the level of general damages in other countries.
However, what’s most important now is that the Government speeds up the implementation of this report along with other initiatives such as enhancing the role of the PIAB, rebalancing the duty of care, and reducing fraudulent and exaggerated claims.
We also need to see action on increasing competition in the Irish market where there are too few companies offering cover and too many barriers to new entrants.
Despite many reports in recent years, reforms to date have not delivered cuts in liability insurance premiums. For thousands of companies involved in retail and food service, this is a crippling cost which can, and must, be reduced.”
