Mart insurance put under microscope by ALM and FBD
Associated Livestock Marts (ALM) and FBD Insurance have announced today (Thursday, February 14) that they will be co-operating to address the issue of insurance costs for marts.
FBD argues that mart lockdowns – where members of the public would be prohibited from entering certain parts of a mart – have the most potential to reduce accidents and therefore reduce insurance costs – when implemented and enforced properly.
John Cahalan, FBD’s chief commercial officer, said the company is committed to working together with ALM to reduce the frequency of mart accidents.
Local communities, including marts, are central to our company ethos for being a community insurer. We are thankful for the opportunity to address mart managers and are committed to working with ALM to address insurance costs for marts.
“Improved health and safety measures, along with mart lockdown, must be considered by marts to reduce the frequency and severity of accidents,” argued Cahalan.
However, Eric Driver, the secretary of ALM, said that while he is “looking forward” to working with FBD, he believes radical mart lockdowns should be avoided.
“I am confident that the measures being taken collectively by marts throughout Ireland will help to enhance overall health and safety, while reducing cost and claim severity,” said Driver.
Prudent attention to practical health and safety practices in the mart yard has a role to play in this regard. So too does increased supervision and assistance during sale days in marts.
Driver also argued that people who attend marts have a responsibility to help reduce mart accidents by observing health and safety standards.
“The public attending marts must be willing to play their part in a changed health and safety landscape and co-operate fully with mart staff and with any new procedures that are in place,” he said.
Concluding, Driver added that the Government would also have a part to play in tackling mart insurance costs.
“The Government also has a key role to play, where it is essential that the recommendations of the insurance working group on Employment Liability Practices should be enacted,” he said.