Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Cuirim fáilte roimh na finnéithe. I welcome the presentations and the responses to many questions, some of which I intended to pose. The Society of Actuaries in Ireland has given a good example of what has been happening since 2010, a picture with which we are quite familiar. We have seen an increase of 70% in premiums in the past two years. I do not suggest it has come from the society but there has been much deliberate misrepresentation of what is happening within the industry to create a smokescreen. The sum of €15,000 was always paid out for whiplash claims. They are not the highest in Europe as other European countries have higher payments. If that level of compensation was always the case, then it cannot result in a 70% increase. If legal fees have not jumped, then it cannot result in a 70% increase. The committee is trying to ascertain the reason and what is within the control of the Houses of the Oireachtas in terms of increased premiums.

Mr. Dunne is the chairperson of the Society of Actuaries in Ireland, but is it true that he also works for one of the biggest insurance companies in the country?