Current legislation and insurance claims practice protects serial claimants and pseudo thieves over law abiding businesses and motorists.
Waterford is showing a similar spike in personal injuries insurance claims over the last year. 212 were awards were made by the PAB in Waterford in the last year. In support of small businesses and motorists all over Ireland that are suffering from spiralling insurance premiums coupled with crippling claims costs insurance. Industry leaders at CFM Group are calling on financial services minister Eoghan Murphy to speed up the establishment of the insurance claims register to out what they describe as ‘Trip and Trick claimants’ and other professional fraudsters.
CFM, one of Ireland’s largest general insurance brokers the company behind brands such as insuremyvan.ie and coverinaclick.ie says it intends to campaign for a register which it believes will go a long way to curbing the activities of professional insurance claimants. Who it is believed are making a substantial living from falsifying multiple claims with the aim of being compensated by insurance payouts.
CFM Group managing director Jonathan Hehir explained the issue in more detail.
There is a relatively small, but very dangerous cohort of people out there who engage in the practice of falsifying insurance claims. This has a knock on effect of putting upward pressure on insurance premiums be – be they motor or commercial as insurers endeavour to recoup the losses made on the back of these claims pay outs. This, in turn, is having a devastating effect on some small Irish businesses as they can no longer afford their commercial insurance and public liability premiums. So too is the financial burden borne by Irish motorists who have seen their premiums soar massively in the last 18-24 months.
The most recent statistics from the personal injuries show that there were 8906 application for public liability claims to the personal injuries shows that there were 8906 applications for public liability claims to the personal injuries assessment board in 2015 that’s up from 7251 in 2010. In Waterford alone in 2015 the total number of motor, employer and public liability awards paid out in 2015 came to 212 and while most of these cases were genuine even a fraction were false then that could lead to several businesses in Waterford suffering the consequences and the livelihood of these business owners and their employees could be in trouble.
The insurance brokers say that the minister should speed up the establishment of a confidential claims register through which insurance claims managers could cross reference the names and addresses of any individual that they suspect might be a serial offender when it comes to claims. CFM contend that many businesses could be saved if this claims register was brought forward.
Source: Waterford today