Mr. Kevin Thompson:

The Senator's contribution has covered a lot of issues. I reiterate that our members do not act as a cartel. There is no evidence to suggest this. I refer to the earlier comment by my colleague. There are 12 domestic insurance providers in the marketplace, and also providers based outside this jurisdiction that passport in to sell their products. There is no evidence whatsoever of a cartel. Our members do not engage in cartel activity. We do have a code on anti-competitive behaviour, of which we remind our members.

The minutes of all our meetings are published and available for people to read. As an organisation and industry, we are fully transparent in the way we conduct our business, which I must emphasise very strongly.

In terms of our membership, 98% of insurance providers are members of the Irish Insurance Federation. Of those which are not members, the majority are international insurance companies, probably based in the IFSC, and do not currently feel a need to be members of the representative body. In terms of technology, it is for each of our members to use the technology available in the best way they can.

Again, I draw the committee's attention to the work we are doing with the OPW. We are starting to understand fully the good work it has done and the technicalities in order that our members can better understand and incorporate it into their underwriting assessment. This is an evolving process, on which we have taken a leadership position. In January, following the previous committee meeting in September last year, we invited the OPW to enter into face-to-face dialogue in order that we would better understand the remedial action which had taken place. We are open to such dialogue.

I am not sure if Mr. Horan has a further insight into the actual technicalities from an underwriting point of view. Again, I strongly emphasise that our members do not act as a cartel.