State urged to abolish insurance levy to protect small construction firms

THE Government must abolish the 2% insurance levy and crack down on fraudulent claims or hundreds of small construction firms across the country could go to the wall.

Public liability insurance quotes have spiralled by as much as 500% over the past two years, delegates gathering for today’s Irish Home Builders annual convention will hear.

A new review by the Construction Industry Federation (CIF) and the Irish Home Builders Association (IHBA) shows that exorbitant insurance costs are threatening to drive many contractors out of business and undermine the long-term competitiveness of many more.