Department Of Finance Consults On The Feasibility Of An Insurance Claim-By-Claim Register

Author:Arthur Cox
Profession:Arthur Cox
 
FREE EXCERPT

In its 2017 Report, the Cost of Insurance Working Group recommended that the feasibility of a longer-term claim-by-claim register be considered as part of efforts to increase transparency around the impact of claims costs on premiums. In response to that the Department of Finance is now consulting on a proposal to establish a claim-by-claim register. This register would be in addition to the National Claims Information Database (NCID).

One potential benefit of a claim-by-claim database is that it could replace the fraud database that is currently being implemented by the Department of Justice and Equality. Thus instead of having two separate registers (the NCID and the fraud database) there would just be one overall register. However, the claim-by-claim database raises significant data protection issues and the cost...

To continue reading

REQUEST YOUR TRIAL