Case Study: Retailer says fraudulent claims are the bane of his business
RETAILER Rajan Chandi says that fraudulent claims are the bane of his business.
Mr Chandi owns six shops, but is struggling to cope with soaring insurance costs. The cost of his cover has shot up by around 100pc over the last four years, putting a huge strain on the businesses.
His shops are mostly in Dublin, apart from one in Johnstown, Co Meath.
He says fraudulent claims are a particular problem for him, which is leading to crippling insurance premiums. "It is a joke in this country. I have been to the Dáil. I have spoken to all the relevant guys about this, but nothing is being done," he said.
He has CCTV cameras in all his stores in a bid to combat false and exaggerated compensation claims.
Mr Chandi said one false claim took two years to dismiss, despite him having CCTV footage showing a staged fall in his Meath shop. The chancers were seeking €40,000 and the claim meant a huge reserve had to be put in place on his policy, and his premium for the store went up 40pc. "Even when you win you don't win because they don't get prosecuted for making false claims," he said.
Mr Chandi, who is married and has a daughter, is originally from India, and is an Irish citizen. He has lived in Ireland for 19 years after he came here as a student and trained as a chartered accountant.
He invested in his first shop when he was made redundant from hotels group Jurys in 2007.