Laois' county town will be lacking the green festivities that other towns will boast on March 17 as the St Patrick's Day parade has been called off.
Organisers have decided to cancel the St. Patrick's Day parade in Portlaoise this year after 'careful consideration'.
Paul Downey, Committee PRO, said that the deadline for the insurance was February 16 but sufficient funds were not raised to cover the parade.
"It is with great regret that Portlaoise St. Patrick’s Day Parade will not be going ahead this year following careful consideration by the committee," he said.
Mr Downey added that no members of the committee were involved for personal gain.
"We as a committee can assure you the public that none of us are on this committee for any personal gain. We volunteer our time so our community can benefit from a St. Patrick’s Day parade," he said.
He went on to thank local businesses that supported the parade in the past.
"Thank you to all the local business’ that have supported our parade over the years. Without you it would not have been possible to run such successful parades.
"We would like to assure the people who have already donated money to this year’s parade, you will be contacted in the coming days.
"Going forward, we would welcome any help or support from the public with our future parades.
"Finally, we would like to thank you the public, our community for your constant support for the parade in previous years and for always joining us on the streets of our great town," he said.
According to chairperson of the committee, Monica Delaney, the insurance was always €426. Last year this increased to €825 for no reason, there have been no claims on the insurance policy.
Monica has said that there is only one insurance company who covers events like this so there is nothing they can do.
Insurance is essential for the parade as people will be on ladders hanging up banners and bunting.
Other huge costs include barriers, bouncing castles, paying musicians and other entertainment on the day.
An online fundraiser was set up to try and raise €3,000 for the parade but it reached €190 which will now be refunded.
In the past the parade continued into an afternoon festival which was enjoyed by families and people of all ages.