Escalating insurance costs put 30,000 jobs in jeopardy, business group says

ISME warned yesterday that up to 30,000 jobs were at risk across most sectors of the economy due to escalating insurance costs.

It follows the shock finding that 96% of firms in a survey were hit by a 71% increase in the cost of their insurance cover in 2002.

In a survey of 1000 firms, respondents warned they would shed jobs due to the escalation in the cost of business and public liability insurance.