Fianna Fáil TD for Galway East, Anne Rabbitte, has echoed the calls from her party colleague and Finance spokesperson Michael McGrath TD who has called on the government to hold an emergency meeting with the insurance industry as Leisure Insure departs the Irish insurance market.
Deputy Rabbitte commented:
UK-based Leisure Insure are specialists in providing insurance for sport, leisure and entertainment. It is my understanding that they are the only provider of insurance in Ireland for some parts of the leisure industry. Activities such as paintball, bouncy castles and other inflatables, airsoft sites, outdoor adventure centres and many others are dependent on insurance cover provided through Leisure Insure, with AXA XL typically being the underwriter. Their exit from the Irish market will jeopardise many businesses in Galway. This will be a very sad day for so many hard-working business owners in Galway who will have no lifeline. There will not be alternative insurance providers. Many jobs will be lost in the West as this insurance company leaves the Irish market.
Deputy Rabbitte concluded:
The simple fact is that public liability insurance for the leisure industry is not an attractive business. Not one of the main insurers in the Irish market will provide cover to parts of the leisure industry. The failure of the government to implement a relentless programme of insurance reform has led us to this crisis point. The government needs to hold an immediate crisis meeting with the insurance industry in light of this decision to find a way of ensuring that viable businesses can continue to access insurance cover at reasonable rates. Without such action the future of many leisure and activity-based businesses have an uncertain future.