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Minister for Financial Services and Insurance, Michael D’Arcy is in Galway, as part of a series of regional events to update on the Government’s work to address the cost of insurance. The meeting, arranged by the Department of Finance, will be attended by local businesses, public representatives and business groups.

Speaking ahead of the meeting, Minister D’Arcy said

These regional meetings provide an important opportunity for me to hear first-hand from local businesses across the country, about the issues they face in obtaining insurance. I am aware of the considerable impact that the cost of insurance has on businesses and acknowledge that some premiums are very difficult to justify. The Government has prioritised work to address rising costs for individuals and businesses, and as Chair of the Cost of Insurance Working Group, I can confirm that significant efforts are being made to address many of the issues in the sector which will ultimately lead to a more stable insurance market.

As part of his visit to Galway, Minister D’Arcy will also conduct a round table with IFS companies as part of the regional focus of the Government’s five year strategy for the International Financial Services sector, IFS2020.