Irish insurers deny cartel allegations

Posted On: Jul. 5, 2019 5:55 AM CST

Three Ireland-based insurers denied allegations that they are operating a cartel after appearing before a parliamentary committee to explain the rapid rise in insurance rates, The Irish Sun reported. Insurers Axa Ireland Ltd., Allianz Ireland P.L.C. and FBD Holdings P.L.C. said that rates have increased due to sky-high injury compensation, exaggerated claims and fraud.