Monday June 1, 2020

Insurance companies will be forced to reveal settlement payouts

New legislation will compel insurance firms to disclose claims, claim amounts, and reasons for settlement to combat spiralling premiums

Michael Brennan

Political Editor

31st March, 2019
Minister of State Michael D’Arcy

Insurance companies are going to be forced to reveal how much they are paying out to settle compensation claims against businesses for the first time.

They will be legally obliged to notify businesses of claims made before they are settled, the amount a claim is settled for and the reason the claim is settled.

The move is intended to expose insurance companies that are settling too quickly and then imposing an automatic premium increase on...

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