Mr. Gary Dunne:

It is important to differentiate between the two things which are pricing and underwriting. I know we are getting a bit technical here but in theory, one can price any risk. No matter what it is, one can put a price on it, not just motor insurance but anything. Lloyd's insures satellites and footballers' legs - it insures anything basically. In theory, one can price on that basis but then there is a separate thing which is an underwriting decision. From an underwriting perspective, an insurer can say it chose to play in this type of market and within this framework. It can say it is quite interested in taxi drivers, it is the place in which it wants to play, it is a great area and no one else is doing it. It can choose to play in it or not to do so. One has to differentiate between pricing and underwriting. What the Deputy is referring to are potentially underwriting decisions to be made. If someone decides he or she does not want a 50 year old who drive a Yaris, which tend to be a safe risk in relative terms, that is an underwriting decision rather than a pricing one. That would differentiate between the actuaries involvement which is on the pricing side, not necessarily the underwriting side.