Devitt Insurance Services is back in the tour operator liability market after striking a deal with White Horse Ireland.
The insurer has been looking for a new underwriter since 1 March, after its contract with the St Paul terminated. Devitt tour operator manager Bill Boyce said the reason for the delay was that the market was "tricky" at the moment. "It is extra difficult to get liability and professional indemnity liability for tour operators," he said.
Gary Armstrong, tour operator account executive with rival insurer Euclidian Insurance Services, said he thought the new competition was "healthy" and agreed that this particular class of business had been volatile.
"It is not a market most insurers want to expand into as a new venture," he said. "It is still a hard market and I hope insurers don't start undercutting premiums."
Boyce said Devitt could now rebuild its business. "We now want to build up the scheme to its former glory in a year to 18 months," he said.
