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ISS Investigating the Insurance Companies

Published: July 1, 2013 | 9:26 am
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What do the members of the insurance market think about the decision made by the Insurance Supervisory Council to conduct a detailed investigation of the insurance companies? The aim of the investigation is to establish whether or not funds had been distributed in an appropriate manner by the participants of the Universal Health Insurance Program. A representative of GPI Holding has already stated that the company is prepared to cooperate with any inquests if necessary. At the Alpha insurance company, who left the government Program after making considerable losses, it is being claimed that the results of the investigation will demonstrate the unprofitable nature of the project. A few years ago, the Control Chamber had already conducted an inquiry, as a result of which it was claimed that State funds were being used by the insurance companies in an inappropriate manner, in order to maximise profits. For this reason, leading individuals at the participating companies were arrested by law enforcement agencies, but were later released.

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