Insurers asked to repay state money they deducted from awards to pandemic-hit firms
Junior minister ‘hopes’ insurers give the money back but admitted the government has no means of enforcing that request
Irish insurers have again been asked to return to the taxpayer millions of euro of state money which they’ve deducted from awards made to businesses affected by the pandemic.
Seán Fleming, the junior minister at the Department of Finance, today repeated his request to insurance companies who have stripped the value of state supports from compensation payments they’ve made to business to return that money to the state.
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Data on insurers’ payout deductions won’t be published this year
Government has come under renewed pressure to recoup millions of euro deducted by insurance firms from Covid-19 compensation
Fleming to examine if British insurers’ pledge can be replicated in Ireland
Junior minister has contacted UK counterpart to learn if commitment given by insurers not to strip value of pandemic-related state supports from awards can be applied here
Taxpayers lose as insurers keep millions in state funds cut from Covid payouts
Government abandons promise to pursue firms for the value of any deductions made
Ian Guider: Insurers are not the only culprits for sky-high costs
If the state is serious about bringing down the cost of business, and of insurance premiums, it must push for the antiquated, opaque and grossly uncompetitive legal sector to reform