Mr. Stuart Gilhooly:

They do not necessarily have to get together to do it. They may simply work it out themselves - I do not know. Obviously I am not privy to that. However, I can offer another example of one of the absolute untruths relating to Setanta - we have not touched on it today. The case of Setanta is consistently used as a reason why premiums have gone up.

That is absolutely not true. Setanta is a one-off, unless one includes Enterprise Insurance, which is a very small aspect of the total picture. Setanta is a €90 million claim at maximum, which, in the grand scheme of things, is very small. Once the Setanta case is over - and that will be very soon because it is being heard in the Supreme Court at the end of next month - I will wager any money that a new motor insurance bureau agreement will be signed in which it is made perfectly clear, in black and white, that any insolvent insurer will not be bailed out by the MIBI. That will be the end of that. The idea that companies are not coming here because they are afraid they will have to pay for other insolvent insurers is simply not right or, if it is right, it is the fault of the MIBI and the Minister for Transport, Tourism and Sport, who has it within his power to negotiate a new agreement. With the stroke of a pen they could solve the Setanta problem. They have chosen not to, presumably because there is ongoing litigation, but as soon as that litigation is over it will be done. Members may be certain of that.