London's traders must be sheltered from huge hikes in insurance following riots (Dee Doocey)

London's traders must be sheltered from huge hikes in insurance following riots

September 14, 2011 4:38 PM

Dee Doocey, the Liberal Democrat London Assembly business spokesperson, today challenged the Mayor to help prevent huge hikes in insurance bills for shops and traders following the recent riots and has called on the Mayor to be proctive and immediately start talking to insurance companies.

At Mayor Question Time, held at City Hall, Dee Doocey highlighted how steep rises in insurance bills would be disastrous for many shops and traders who are already struggling due to looting and lost business during many days in August, in addition to the tough economic climate facing the whole economy.

Dee Doocey commented:

"Too many shops and traders were hit for six by the riots and widespread looting that took place in high streets across London.

"For these businesses getting back on their feet is a big enough challenge without extra barriers being placed in their way.

"A hike in insurance premiums for shops and traders could have a devastating impact and drive too many small businesses to the wall.

"The Mayor should not just wait until this happens, but instead act now. He should immediately take up my recommendation and get all the main insurance companies around a table and ensure that any issues are quickly resolved. We must avoid hugely increased insurance bills arriving on the doormats of London's small shops and traders."