It is believed to be the only, or principal, provider of such insurance in Ireland.said the reason for the withdrawal was “that it’s uneconomically viable to offer cover; in other words they were afraid of the judicial system in this country, and our book of quantum [setting out payment guidelines], and our large awards.”
Current policies will be honoured but not renewed from the beginning of August, affecting 280 IIHF members directly, but also many of the 700 other bouncy castle companies that are not members of the IIHF.“As you all know this industry has had a difficult few years regarding Public Liability Insurance not least increased premiums and quote refusals,” the IIHF said in a recent statement to its members, announcing the decision.
According to Mr Frawley premiums had recently risen from about €200 per unit per year to as high as €300 although claims were very rare. A large-scale withdrawal of cover, he said, will lead to concerns over operators working without insurance, threatening safety standards.