Galway business, employing 60 people, says it will have to close if insurance premiums keep rising
A Galway business employing 60 people says it will have to shut if its insurance premiums keep going up.
McCambridge’s food hall and restaurant has been in operation in the city since 1925.
Eoin McCambridge says the cost of his insurance has gone from €17,000 in 2014 to €102,000 last year.
He is a Director of the Alliance for Insurance Reform which is calling for action on the issue.
"Every time we see a slip or trip, it’s kind of in the back of my mind now ’how much is this going to cost me?’ said Mr McCambridge, who is also Managing Director of the restaurant.
Alliance member Eoin McCambridge talking about how high and increasing insurance costs along with exaggerated claims are threatening his livelihood #InsuranceReform pic.twitter.com/LQNhP6Tt4x
— Alliance For Insurance Reform (@InsuranceRefIre) January 24, 2018
"It’s not what can I do for my customer or how I can look after them, because that’s what you want to do, and most of our customers are completely genuine.
"But you are always worried about the customer who is going to take advantage of the situation and it’s going to cost you X amount which is going to be lobbed back onto your premium in the following year."
