Galway Bay fm newsroom - The Minister for Financial Services and Insurance will be in the city tomorrow to attend a meeting with Galway businesses on the cost of insurance.
The visit comes amid growing fears among small businesses nationwide that they'll be forced to close as as result of rapidly increasing costs.
In recent weeks, the Dáil has heard that many businesses across the west are on the 'verge of collapse' due to spiraling insurance costs.
The Taoiseach was warned by Galway West Deputy Noel Grealish that the cost of insurance is the number one reason that small businesses are facing closure.
Deputy Grealish also advised Leo Varadkar that the Government should establish a Financial Conduct Authority to oversee the insurance industry as a matter of priority.
However, businesses across Galway have already fired the first shots in the war against rising insurance costs, ahead of any possible Government intervention.
In January, it was revealed that Galway Businessman Pat McDonagh would spearhead a new campaign from the newly revived Alliance for Insurance Reform.
In the past, the grouping was instrumental in bringing about significant changes - including the setting up of the Injuries Board, and the introduction of legislation making it an offence to lie in a personal injuries case.
Minister for Financial Services and Insurance, Michael D'Arcy, will now meet with Galway businesses at a high level event in the city tomorrow.
He'll be accompanied by officials from the Department of Finance - and top of the agenda will be what steps the Government is taking to address the situation.
The meeting will take place at the Portershed at Eyre Square tomorrow afternoon at 12.30.
