Donohoe flags up potential pitfalls of state-backed insurance scheme

Minister for Finance says the state may be no better at managing risks than private insurers

5th July, 2020
Donohoe flags up potential pitfalls of state-backed insurance scheme
Minister for Finance Paschal Donohoe has cautioned against state involvement in the insurance sector. Picture: PA

Minister for Finance Paschal Donohoe has again cautioned against state involvement in the insurance sector, warning that it could reduce competition and do nothing to tackle premiums.

The prospect of the state providing insurance has been raised on numerous occasions in recent months, notably when childcare providers were struggling to get cover at the end of last year and on a broader basis in the wake of the Covid-19 pandemic.

Donohoe said he would be...

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