Written question asked by Roy Beggs (Ulster Unionist Party) on Monday, 24 February 2003, in the House of Commons. It was due for an answer on Monday, 3 March 2003. It was answered by Ian Pearson (Labour) on Monday, 3 March 2003 on behalf of the Northern Ireland Office.

Northern Ireland Office

Question: To ask the Secretary of State for Northern Ireland, if he will establish an independent review of the effect upon business in Northern Ireland of recent increases in insurance premiums. - Inc figures.

Answer: Mr. Beggs: To ask the Secretary of State for Northern Ireland if he will establish an independent review of the effect upon business in Northern Ireland of recent increases in insurance premiums. [99321] Mr. Pearson: The current difficulties in the insurance market are having a particularly adverse impact on a predominantly Small and Medium Enterprise based economy such as that in Northern Ireland. The Department of Enterprise, Trade and Investment has conducted a business survey on insurance costs. It indicates an average increase of 28 per cent. in 2001 and further an average increase of 49 per cent. in 2002 particularly (but not exclusively) in employers' liability and property insurance. The results of this survey will be fed into Government's current review in which my officials are participating. The outcome of the review will be reported to Ministers by the end of March 2003.

Secondary information

Type: Written question
Reference: 99321; 400 c838W;400 c830W
Session: 2002-03
Subjects: Business Fees and charges Insurance Increases Northern Ireland Small businesses
Contains statistics: Yes
Link: View this Written question on www.publications.parliament.uk