Bernard J. Durkan
Ceist:62 Mr. Durkan asked the Minister for Industry and Commerce whether public liability insurance costs have resulted in an appreciable number of firms operating without such cover; and if he will make a statement on the matter.
Written Answers. - Public Liability Insurance Costs.
I am not aware that the cost of public liability insurance has resulted in an appreciable number of firms operating without such cover. I understand that business firms generally consider employers and public liability insurance to be a necessity. However, there is no statutory obligation on any firm to take out such cover.
The cost of insurance, including public and employers' liability insurance, tends to reflect the claims experience of insurers. In 1987 and 1988 insurers sustained underwriting losses of £18 million on their liability accounts. These losses increased to £30 million in 1989 and are expected to exceed that figure for 1990.