UK insurer returns to hospitality sector following Government reforms designed to reduce the cost burden on businesses
Aviva said it plans to increase its liability offering in the hospitality sector, with a focus on restaurants, pubs, and selected hotels. Insurance Ireland plans to increase its coverage of the hospitality sector following the implementation of several Government reforms of the sector, including duty-of-care measures brought in last year to address the issue of slips, trips and falls.
Insurance brokers say the move should provide a significant boost to coverage competition in a sector that is subject to fragmented pockets of focus by insurance companies based in the State. Much of the coverage comes from overseas players, such as Lloyds of London market participants, who mainly provide capacity through managing general agents .
A family bought a flat so their student son could have a place to stay – six years on, he’s still thereBrokers put the size of the broader hospitality market, measured by annual gross written premiums, at between €100 million and €150 million.
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