Insurance Archives - Ireland's Forecourt & Convenience Retailer

Retail Minister is Committed to Getting Shop Insurance Premiums Down

Julie Nash — Wed, 22 Feb 2023 14:09:45 +0000

Retail Minister Neale Richmond said he was focused on ensuring that all the Government insurance reforms bring the cost of shop insurance down. Speaking at a meeting with RGDATA President Colin Fee and Director General Tara Buckley, Minister Richmond said one of his key priorities in office will be reducing the cost of all insurance including employers liability and pubic liability. RGDATA told the Minister that despite all the reforms shop insurance costs remained stubbornly high.

RGDATA briefed the Minister on all the challenges facing independent convenience/grocery retailers including the high cost of doing business; need for reform of the Temporary Business Energy Support Scheme; need for an urgent study on the cumulative impact of all the Government measures on sustainability and employment on SME food retailers with a view to developing support packages to assist with their delivery.

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Farm fuel thefts spike in UK as diesel and oil soar

Linda Stewart — Fri, 05 Aug 2022 10:50:43 +0000

UK farm fuel theft has more than doubled in both cost and frequency during the first quarter of 2022 compared to the same period last year.

The figures from the NFU Mutual rural crime report revealed that farm fuel theft is on the rise, driven by criminal gangs roaming more freely following the end of pandemic restrictions and soaring prices for diesel and oil.

Theft of diesel, heating oil and other fuel dropped slightly from 2020 to 2021. However, NFU Mutal stated that first quarter statistics showed that thieves were making up for lost time over the pandemic, with overall costs for theft over 40% higher than in the first quarter of 2021.

Rural residents are becoming increasingly concerned about the rising crime rates. According to NFU Mutual’s recent poll, 89% of respondents in rural communities are worried that inflation and the increased cost of living will result in a rise in rural crime.

Meanwhile, in 2021, the cost of rural crime in the UK declined by 9.3%, inthe second annual fall since the start of the pandemic.

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Musgrave calls on the Government to fast-track measures to tackle high insurance costs.

Julie Nash — Mon, 08 Mar 2021 10:36:53 +0000

Musgrave, Ireland’s leading food retail, wholesale and foodservice company, has called on the Government to fast track a suite of measures required to tackle high insurance costs in Ireland. Musgrave supports over 1,000 independent retailers in Ireland.

A spokesperson for Musgrave said “Saturday’s report from the Judicial Council will have to be examined in detail by the many retailers who have borne the brunt of rising insurance premiums in recent years. It may take some time before we see if the new guidelines bring Ireland in line with the level of general damages in other countries.

However, what’s most important now is that the Government speeds up the implementation of this report along with other initiatives such as enhancing the role of the PIAB, rebalancing the duty of care, and reducing fraudulent and exaggerated claims.

We also need to see action on increasing competition in the Irish market where there are too few companies offering cover and too many barriers to new entrants.

Despite many reports in recent years, reforms to date have not delivered cuts in liability insurance premiums. For thousands of companies involved in retail and food service, this is a crippling cost which can, and must, be reduced.”

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