asked the Minister for Industry and Commerce if his attention has been drawn to the difficulties being experienced by jarveys in Killarney, County Kerry, as a result of their inability to procure public liability insurance which is a condition of their licensing obligations; and if he will make a statement on the matter.
Written Answers. - Killarney Jarvey's Insurance Cover.
152.
I am aware of the difficulties being experiened by a limited number of jarveys in the Killarney area with regard to public liability insurance cover.
As the Insurance Supervisory Authority, my primary responsibility is to ensure that insurance companies meet their statutory reserves and solvency requirements and, as such, I must respect the right of insurers to accept or reject risks in the light of their underwriting experience. No obligation can be placed by me on an insurer to quote in respect of a particular risk or to quote at a particular premium. In 1987, the latest year for which full figures are available, insurers sustained underwriting losses of £18 million on their general liability business. Faced with such losses, insurers have had no option but to relate premiums to costs and to exercise more selectivity in the type of risk undertaken.
An arrangement exists with the Irish Insurance Federation to assist where difficulties are experienced in obtaining public liability insurance. In nearly all cases to date involving jarveys the insurance required has been obtained. Before a case can be referred to the federation it is necessary that at least half the market (including Lloyds) be approached without success. Evidence of these approaches together with a brief synopsis of the risk should be forwarded to the insurance section of my Department who will refer the matter to the federation. It must be emphasised that no guarantee can be given that cover will be forthcoming in every case referred in this manner to the industry representative body.