‘700% insurance hike will close my taxi firm’ says Limerick operator

A Limerick taxi operator has said his company is under threat of closure after the cost of insuring the firm’s fleet of cars has risen by 700%.

Tom Hannon, who provides employment for eight drivers at Tower Cabs, said the cheapest quote he got to insure the company’s eight vehicles was €53,000, from a UK firm.

The offer is €3,000 less than the €56,000 he was quoted to renew his policy with his current Irish insurance provider, Liberty.