Leisure in Ireland considered so risky, insurers won’t go near it
Thousands of jobs are threatened in the Irish leisure sector as firms can’t get insurance to cover their risks, according to reports.
As many as 4,500 jobs could be threatened across the Irish leisure sector as firms struggle to get cover.
UK-based MGA LeisureInsure, backed by AXA XL, said it will not quote for new business from this week, and from the end of the month will cease all renewals, according to the Irish Times.
Bouncy castle operators, play centres, paint ball firms, adventure centres and leisure centres are considered so risky, Irish insurers won’t cover the risks – and now that one of the major Irish players in LeisureInsure is exiting, firms are facing a crisis.
The risk of staff or members of the public getting injured or taking legal action is so costly on claims, carriers are steering clear of liability risks.
Some cover is being provided by brokers with access to an Allianz specialist division.
“Our hearts go out to the small businesses affected by the LeisureInsure and AxaXL decisions,” said Peter Boland, of the Alliance for Insurance Reform.
“These are friends, families, neighbours with otherwise perfectly viable businesses being closed due to something entirely outside their control.”
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