Private coach and bus firms can benefit from reduced insurance premiums in 2003 under a new risk management programme introduced by a specialist insurance broker. JF Dunne Insurances will offer firms a 5 per cent premium reduction on completion of the programme.

The measure could lead to total savings of €500,000 for 1,100 client companies next year, says Mr John Dunne, managing director of JF Dunne Insurances. JF Dunne about 65 per cent of the private coach and bus market.

Premiums for the sector rose by 33 per cent in 2002, Mr Dunne said.

The programme is underwritten by AIG Europe Ireland and focuses on basic measures that can reduce the risk of an accident, such as vehicle maintenance, driver training, customer care and risk analysis.

After completion of the course, firms and drivers must sign up to a vehicle safety check every four weeks, full maintenance every six weeks and regular driver reviews.