Retail Excellence has recently released a statement 'demanding' that the European Commission shoould extend their current insurance cover policies for retail and hospitality premises.
Europeans officials are reportedly in Ireland investigating a possible insurance cartel within the Irish motor industry.
Retail Excellence has called upon those officials to take action and conduct an investigation into retail and hospitality premises, due to suspicion of similar occurrences.
Lorraine Higgins, Spokesperson for Retail Excellence, said, "It is imperative that the Commission look beyond the terms of their initial investigation.
"The Commission should not just limit the probe to motor insurance but rather ought to extend it to include scrutiny of market practices as they apply to public liability insurance, employee liability insurance and general insurances required by retail and hospitality businesses in this country. I have written to Commissioner Margrethe Vestager to request she take this action".
Higgins also addressed the problem of high costs that discourage some retailers from operating their business without the necessary insurance protections.
She commented, "Clearly, this development is of utmost concern to one and all for a number of reasons but primarily because of the unreasonably and implausibly high cost of insurance for retailers despite the level of competition existing in the market”.
© 2017 - Checkout Magazine by Patrick Lewers