Rose Conway Walsh (Sinn Fein) | Oireachtas source

I thank the witnesses for their presentations. For the last two weeks, we have been putting all the pieces together and as such it is very interesting to hear the different perspectives. We have proposed that the CSO take on the role of providing an independent voice in regularly publishing data on the industry. Does the Society of Actuaries in Ireland feel that it is better placed to do that and, if so, why? Can the society explain further its relationship with Insurance Ireland? Is it fair to say it has a symbiotic relationship with the insurance industry? Might that interdependence affect its ability to act independently in any role involving collecting data and publishing it in a neutral way? Mr. Dunne stated that the key factors in the price of insurance include the total cost of claims which in turn depends on the number of claims and their average cost. The insurance companies' expenses, including commissions, and their profit targets are the other key factors. The committee has been sitting for two weeks and I have yet to hear any evidence beyond spin that the total cost of claims, and again we have heard it today, has increased in any meaningful way. The number of claims may have increased as one would expect in a growing economy but beyond that any other claim that costs have significantly increased has been well and truly refuted, including today. Given that we have seen a 70% increase in two years, is it the case that companies' commissions in terms of their profit target is responsible for the increases? I would like the society's thoughts on some of those questions.

PIAB has come under a great deal of scrutiny and many aspersions have been cast by the industry. As such, it is good to have its representatives here today to have a look at some of the real figures. There is a view that PIAB is designed to be a lawyer-free zone and that it has been taken over by the legal people. We had the Law Society in here yesterday. Based on what Mr. O'Brien told the committee, it appears that a high proportion of claimants have always chosen to use the law which figure has not changed significantly. Has it increased in the last two years and, if so, by what level? Are there any circumstances in which PIAB covers legal fees? If so, what are they and what has been the cost of that in recent years? Has that decreased or increased?

We continue to return to two important issues around the book of quantum and the lack of data. A representative of the Law Society told us yesterday that from what he had heard, the book of quantum will show an increase in the lower levels and the higher levels. Is that PIAB's understanding of what will happen with the new book of quantum? Has the insurance industry provided all of the data it could to the book of quantum reviewers? How can the process be made more transparent? Is the book of quantum being delayed due to any lack of co-operation on any side? The Central Bank publishes many statistics on the motor insurance sector. What is missing from the data already published? Why has the book of quantum not been reviewed for such a long time and will it be reviewed more regularly from now on? Is there anything within the gift of PIAB to address the fact that people's first instinct is to see a solicitor when they have had accidents? Does PIAB feel the legal profession is giving people enough information around the services PIAB can offer? I am getting at the low number of people who have taken up the avenue of PIAB instead of going straight to court. How can we reduce the legal tie-in with PIAB as it was never set up to be that? It was established for people to access themselves and to provide a fast track.