Premium problems in Ireland
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JO Hauliers in Ireland are being forced out of business by insurance premium increases of more than 65%—the insurance companies are blaming the rises on low investment returns and a year of high payouts.
For Donegal haulier John Deeny a rise of 50% proved too much. lie has quit the business after 30 years of trading, following a renewal quote of IR£57,500 for a five-truck fleet. "My broker couldn't even get an alternative quote," says Deeny. "Casts keep rising, and the customers are dictating rates."
However, Irish Insurance Federation spokesman Martin Long says: "In the past year many claims have matured, and investment returns have fallen."
A Cork haulier with two claims on record reports a 65% rise in his premium, from 1111.23.000 to 111£53,000 per truck. "Everyone has gone crazy." he says.
Deeny, a former IRHA executive member, says that Irish hauliers should call a monthlong protest strike in a bid to get action on low rates and high costs.