As I recently informed the house in response to Parliamentary Question No 305 of 28 March, my Department and a number of the bodies under its aegis operate under State Indemnity, a self-insurance model whereby the State bears the financial risk associated with the cost of claims. This approach is set out in the Public Financial Procedures at C8 Section 11 whereby the general rule is that no insurance should be effected against the risk of any loss which, if it arose would fall wholly and directly on public funds. This is based on the understanding that the risks for which the Government is liable are innumerable and widely distributed and that losses maturing in any one year are never so large as to materially disturb the financial position of the year, so that it is cheaper in the long term for the Exchequer to “carry its own insurance”.
The National Treasury Management Agency is designated as the State Claims Agency (SCA) when performing the claims and risk management functions delegated to it under the National Treasury Management Agency (Amendment) Act 2000. Since the establishment of the SCA, the management of claims functions has been delegated to the Agency.
The table below provides a summary of insurance costs incurred during the period in question by bodies under the aegis of my Department.
Annual Insurance Costs 2012-2017
Body
|
2012
€
|
2013
€
|
2014
€
|
2015
€
|
2016
€
|
An Coimisinéir Teanga
|
1,250
|
1,250
|
912
|
1,234
|
1,357
|
National Gallery of Ireland
|
45,855
|
39,027
|
41,814
|
38,731
|
23,168
|
National Library of Ireland
|
23,456
|
41,227
|
-
|
-
|
-
|
National Museum of Ireland
|
10,231
|
9,946
|
9,750
|
9,658
|
9,750
|
Waterways Ireland
|
94,998
|
78,750
|
23,800
|
184
|
-
|
Arts Council
|
15,564
|
16,685
|
12,907
|
12,448
|
13,695
|
Chester Beatty Library
|
31,469
|
28,926
|
30,709
|
34,192
|
30,311
|
Crawford Art Gallery
|
46,525
|
42,186
|
45,067
|
42,118
|
42,279
|
Heritage Council
|
34,481
|
30,919
|
29,345
|
15,604
|
17,260
|
Irish Film Board
|
6,749
|
9,560
|
8,702
|
9,585
|
10,761
|
Irish Museum of Modern Art
|
9,520
|
9,385
|
9,574
|
9,688
|
11,097
|
National Concert Hall
|
44,639
|
56,364
|
56,613
|
53,950
|
51,123
|
Údarás na Gaeltachta
|
266,987
|
260,583
|
273,532
|
305,200
|
334,164
|
Western Development Commission
|
6,805
|
6,855
|
6,639
|
6,572
|
6,633
|
Foras na Gaeilge
|
36,751
|
33,167
|
13,491
|
26,390
|
44,475
|
The Ulster Scots Agency
|
6,552
|
4,243
|
5,184
|
5,477
|
8,799
|
Total
|
681,832
|
669,072
|
568,039
|
571,030
|
604,873
|