Responding to the Government’s Action Plan for Insurance Reform, Graham Byrne, Chairman of the Small Firms Association (SFA), said: “This report marks a big step forward in reforming our insurance sector. For too long the cost of accessing insurance has been a barrier to creating and expanding a small business, especially in the leisure, hospitality, retail, and childcare sectors. The SFA have continually highlighted the serious issue of escalating insurance costs and its threat to the competitiveness of our small business community.
“This action plan is certainly welcomed but can only be celebrated as a partial victory, as the actions will take time to set up and implement. Therefore, the plan’s clear timeline for delivery must be adhered to so that these first steps towards lasting insurance reform can take place next year.
“Ireland has incredible small business owners who in the past nine months have faced unprecedented challenges, 2021 will continue to bring uncertainty for our smallest employers, as they begin to manage a new trading relationship with the UK. What we need the Government to do now is to focus on keeping the cost of business down by delivering on this plan and ensuring the competitiveness of our indigenous entrepreneurs”, continued Mr. Byrne.