Insurance reform is a fundamental and long-needed development for the survival of the activity tourism sector, as well as being a key part of the recovery from the Covid-19 crisis. In amending the pay-out guidelines he IAAT welcomes the recognition given by the Judicial Council to the need for reform, however that amendment does not go far enough to deliver real and sustainable change that will truly address the insurance crisis in Ireland. The simple ask is to bring Ireland into line with comparable jurisdictions internationally.
Brendan Kenny, Chief Executive at IAAT commented:
“While it is good to finally see insurance reform addressed by the Judicial Council, the amendments to the guidelines simply do not go far enough to deliver the real change required to save so much that is the very fabric of Irish society. The activity tourism sector needs reform that will result in affordable cover, a deterrence to an ever-worsening claim culture and consequently see competitiveness return to the insurance industry in Ireland. Businesses in our sector are desperate to re-open and deliver the outdoor activities more in demand than ever, but insurance was the crisis before the Covid-19 crisis and without significant change, we will struggle to recover and continue to lose businesses offering this great product.”
IAAT is writing to An Tanaiste Leo Varadkar in his role as Chair of the Cabinet Committee Sub-Group on Insurance Reform, requesting that the Government intervene as they are constitutionally entitled to.