‘If I can’t get cover at a reasonable cost, I will not be able to launch my business’

DUBLINER Mick Neville says his plans to set up his own business are under threat from sky-high insurance quotes.

An enormous quote for a truck he needs for his business, supplying technical services to the broadcast industry, has put his plans in jeopardy.

The former TV3 director of operations was refused cover for a motor policy for a special rigid truck he needs to create a mobile TV studio.

He contacted the declined cases committee, operated by Insurance Ireland for those refused cover by at least three insurers. This forced his motor insurer Allianz to give him a quote. After initially refusing to quote, Allianz said it would charge €10,762.50.

Mr Neville has a full licence for a car and is taking a test for a HGV licence. He said the quote was roughly the same amount of money it cost to buy the second-hand, 18-tonne truck.

In April, he formally requested that Insurance Ireland review his case as he believes the quote is “tantamount to a refusal”. He is still awaiting a response.

Mr Neville said he has contacted Junior Finance Minister Michael D’Arcy, who has responsibility for insurance reform, the Competition and Consumer Protection Commission, and the Financial Services Ombudsman, all to no avail.

“I am aware of similar operators in the industry paying €3,500 and was quoted £2,500 for the same cover in Belfast,” he says. However, as he is based in the Republic he cannot get insurance in the North.

“If I can’t get cover at a reasonable cost, then I can’t launch this business,” he said.

Insurance Ireland said it had no role in the commercial decisions of any insurance company in the market.

Allianz said the vehicle Mr Neville owns is outside its acceptance criteria and when first approached it could not underwrite the risk for him and declined to quote.

“Mr Neville contacted Insurance Ireland and under the insurance industry declined cases agreement was reverted back to Allianz (point of first refusal) and we subsequently quoted for the risk at what we believe to be an appropriate premium for Mr Neville,” it said, adding it had fulfilled all of it obligations to Mr Neville.