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Insurers to fund insurance fraud unit

Posted On: Jul. 6, 2018 5:45 AM CST

Irish insurers agreed to collectively pay €1 million annually to set up a new police unit to investigate insurance fraud, reported. The new unit will operate independently from the insurers and will be part of the Garda National Economic Crime Bureau. The decision to set up the new unit is expected to reduce insurance premiums amid a rise in false claims. Insurance fraud costs the industry an estimated €200 million per year.

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