Insurance hike puts livelihoods at risk

INSURANCE for hotels and guesthouses has increased by an average of 351% since 2000, forcing some owners to risk their entire livelihoods by operating without insurance, the Irish Hotels Federation revealed yesterday.

The Irish Hotels Federation (IHF) will this week tell the Joint Oireachtas Committee on Enterprise and Small Business that a recent survey of over 900 hotels and guesthouses reveals the average insurance premium in the sector rose a massive 351% between 2000 and 2003.

IHF president Jim Murphy said it is unacceptable that no action has occurred to improve the situation. Insurance is the biggest single overhead cost item for hotels and guesthouses.