Soft Market Insurance Market Is Booming Worldwide

icket prices for summer festivals and shows are set to rise because of soaring insurance premiums and rocketing expenses.

Event organisers have indicated customers are likely to be hit in the pocket, with entry fees increasing by up to €10 in some cases.

Agricultural shows have faced insurance premiums increasing by as much as 25pc, while festivals have also seen a huge spike in running costs.

The Alliance for Insurance Reform said tourism, hospitality, entertainment and leisure businesses that survived the pandemic were now being hit on average with a 16pc increase in premiums.

From six-figure insurance premiums to the cost of hiring marquees nearly doubling, it is expected to be an expensive summer for events and businesses trying to recover from Covid-19.

A handful of arts festivals have already been cancelled this year, with organisers citing insurance issues.

Some agricultural shows confirmed entry prices are likely to rise by between €5 and €10.

National secretary of the Irish Shows Association Jim Harrison said insurance and general costs had increased substantially for its 133 affiliated agricultural shows.

“Public liability insurance is the problem, it’s up about 25pc, but everything has gone up around the same including marquees, portaloos, sound equipment and even the hiring of crowd control barriers,” he said.

“The price of entry to the shows could be a problem, with the price of diesel and the price of meal to feed cattle going up.

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