Insurance firms agree to allocate €1m a year for garda insurance fraud unit

Insurance companies have agreed to fund a new garda unit dedicated to investigating insurance fraud, at a cost of €1m a year.

It is hoped the unit, which will be operationally independent of the insurance industry, will ultimately bring down the cost of premiums for motorists.

It is estimated that one in 10 claims is exaggerated or fraudulent.

CEO of Insurance Ireland Kevin Thompson says it is now up to the Government to get it up and running.

Mr Thompson said: "Its for Government to decide now. It was part of the recommendations from the Government's Cost of Insurance working group.

"We have responded to that recommendation through our analysis, we have confirmed to the Government that the funding is there, and it's now for Government to decide when and how this will happen."


More in this Section

Tragedy as second man killed in tree-cutting incident in a week

14-year-old girl missing in Dublin

Man charged over hijacking bus

Business leaders and bishop speak out against bombing of Derry courthouse


Lifestyle

The more you spend on entertaining a small child, the less likely they are to enjoy it

Untying the Knot: How to divorce with love

Appliance of science: Why does my voice sound so different when recorded?

Let’s hear it for the girls: New book celebrate Cork's Scoil Mhuire

More From The Irish Examiner