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Lough Key Zip Line operator fears high insurance costs could close businesses

Jul 26, 2022 13:15 By Shannonside News
Lough Key Zip Line operator fears high insurance costs could close businesses
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Insurance costs for public liability have soared in the last two years.

The operator of one of the region's most popular adventure attractions fears businesses will be forced to close due to high insurance premiums.

Bill Cremin operates Zip It Forest Adventures at Lough Key as well as several ice skating rinks at locations around the country.

He believes costs have now spiralled out of control with the firm paying over 2 million euro in insurance costs since 2016.

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However, the managing director says just 200,000 euro has been paid out in claims during the same period.

He's calling on the Government to bring major reform to the industry to ensure businesses with some level of risk can survive.

"The problem is the disproportionate effect that a very small few claims have on our businesses. It is the single biggest threat to our business but we really need action from our government on this one because in 12 months' time there will be an outcry when these adventure parks all over Ireland are closing down and they will say we should have done something.

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Well now is the time to do something."

 

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