Call for insurance fraud to be specific offence

THE increasing cost of claims facing insurers is the primary cause of rising premiums, according to Irish Insurance Federation chief executive Michael Kemp.

“We conservatively estimate that one element of this cost, insurance fraud, amounted to 65m euro in 2001,” Mr Kemp said.

“As the financial burden of insurance fraud is ultimately carried by all insurance-policy holders, IIF is calling on the Government to legislate for a specific offence of ‘insurance fraud’ when the new Dáil resumes,” he said.