There are further claims that the insurance industry is exaggerating claims in an effort to justify insurance premiums.
In the case of Allianz, Donegal Deputy Pearse Doherty found that just 1% of all claims made to the insurance company were reported as fraudulent, despite the CEO previously stating that 20% of all claims made were suspected to be fraud.
Speaking from the recent Finance Committee, Deputy Doherty says that while there are issues in terms of fraudulent and exaggerated claims, they not at the scale that the industry is suggesting :
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