Insurance Special: Compo culture feeds off official apathy
Exaggeration of personal injury claims and generous payouts have long been a problem in Ireland
Former High Court President Nicholas Kearns told a conference last June that a particular bugbear of his was the lack of resolve there appeared to be by many insurers to tackle fraudulent claims and “fight them to the end”.
Insurance fraud costs insurance companies in Ireland an estimated €200 million annually, which ends up being covered by policyholders. Offenders face a maximum fine of up to €100,000 and/or up to ten years in prison under...
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