Jobs ‘threatened by insurance costs’

THE failure to introduce laws reducing spiralling insurance costs will force many companies out of business and put hundreds out of work, the Alliance for Insurance Reform (AIR) claimed yesterday.

Despite the Cabinet’s pledge on Tuesday to give priority to reform of the insurance market, new laws aimed at delivering lower costs have not been drafted, and will not come into force until next year.

The Government Chief Whip Mary Hanafin has confirmed that two new laws, aimed at reducing the cost of delivering compensation to victims of accidents and reforming the law on personal injuries, will not be passed before the Dáil’s summer recess.