The Irish Independent have more information this morning on the news that broke over the weekend. One of the two major insurers covering the Irish Childcare market has withdrawn from the market.
Créche operators could be left scrambling to find insurance coverage or face sky-rocketing increases in premiums after one of the biggest insurers of childcare facilities withdrew from the market.
Insurance broker Padraic Smith and Co, which has its base in Fairview, Dublin, is one of the leading agents in the childcare market, catering for Montessori and crèches amongst other segments in the sector.
But in an email to its clients – a copy of which has been seen by the Irish Independent – the company warned the recent acquisition of Ironshore Europe DAC by the Hamilton Insurance Group Ltd “has led to Ironshore withdrawing from the early care sector amongst other liability sectors in Ireland”.