Leisure businesses in Ireland, such as mobile saunas, petting zoos, and glamping sites, will have access to a new affordable insurance option.
The unnamed insurance provider claims a new underwriter will secure affordable cover will provide a “crucial safety net” to protect firms. It currently insures St Patrick’s Day celebrations, as well as film and TV productions for global players such as Netflix and Disney.
The experience economy in Ireland supports approximately 330,000 jobs and is valued at €4bn, as per the employers’ confederation, IBEC.
The new insurance scheme aims to stabilise the leisure industry by providing comprehensive coverage for diverse enterprises and fostering growth in rural areas with fewer employment opportunities.
Hundreds of firms in the leisure sector have closed permanently due to the lack of accessible insurance in recent years.
Jane Brady, managing director of Brady Insurance, said: “The scarcity of insurance options has placed immense pressure on the experience economy, leading to business closures and job losses. It provides confidence and certainty to those businesses who have struggled with either securing insurance or been crippled by exorbitant premiums in recent years. Our new scheme not only addresses this critical gap by providing accessible comprehensive coverage but also aims to stabilise the industry, safeguard existing jobs and foster growth. We are committed to supporting these businesses, ensuring they continue to thrive and contribute to Ireland’s cultural and economic landscape.”
