Oireachtas Joint and Select Committees
Thursday, 24 May 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Insurance Costs for Community Groups: Discussion
10:00 am
Mr. Jackie McMahon:
We look at the mart as a bucket of risks. We insure 52 of the 77 marts. The core principle of insurance is that the premiums of many pay for the claims of the few. Unfortunately, as a business we are losing money in marts. Everybody has to carry a rate increase to pay for some marts that have a very poor claims history. That is what we are funding.
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