Insurance Industry Willing To Work With Government To Create Plan To Manage Premium Costs
The insurance industry says it will work with government to implement a new plan to tackle spiraling premiums.
The 71-point action plan includes the creation of a data base of fraudulent claims, and a commission to look at levels of insurance awards.
It also recommends that insurers must explain the reasons for price hikes to customers.
Kevin Thompson CEO of Insurance Ireland says some of the recommendations will create challenges for the industry:
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