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

9th January, 2022
Taxpayers lose as insurers keep millions in state funds cut from Covid payouts
Seán Fleming, Minister of State at the Department of Finance, had warned insurers they would be pursued for the value of any deductions made from the Covid-19 related payouts to their customers. Picture: Fergal Phillips

Insurance companies are set to pocket millions of euro of taxpayers’ money intended to support businesses through the Covid-19 pandemic, as the government has abandoned plans to pursue them for repayments.

The Business Post revealed last year that a number of insurers had begun stripping thousands of euro from policyholders’ awards by deducting the value of state supports such as wage schemes and rates waivers, in a move which effectively used taxpayers’ money to...

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