Harney vows to close possible risk-equalisation loophole

Minister for Health Mary Harney has said she will bring in legislation, if necessary, to close a possible loophole that allows health insurers to avoid risk-equalisation payments by changing ownership every three years.

Yesterday, the Quinn Direct insurance firm said it had bought out BUPA's Irish business and believed it was exempt from the payments for a period of three years as a new entrant to the market.