'We are absolutely dismayed at the pace of progress which the Government is making on insurance reform'

The Alliance for Insurance Reform says that spiralling insurance costs, driven by high financial awards on claims, are crippling small businesses and forcing many to close.

'We are absolutely dismayed at the pace of progress which the Government is making on insurance reform'

The Government is being called on to act and address the ongoing crisis within the insurance industry.

The Alliance for Insurance Reform says that spiralling insurance costs, driven by high financial awards on claims, are crippling small businesses and forcing many to close.

The body, along with ISME, which represents small and medium-sized business, will be before the Oireachtas Finance Committee later to discuss the issue.

Director of the Alliance for Insurance Reform Peter Boland says government inaction is compounding the insurance cost problem.

"Since we last presented to them [the Oireachtas] last year, nothing meaningful has happened in this area," said Mr Boland.

"We are absolutely dismayed at the pace of progress which the Government is making on insurance reform.

"At this stage, there has been umpteen reports. Everybody knows what needs to be done and it just isn't happening."

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