Mr. Patrick Kenny:

I was going to reply to the Senator at the end as I had written down her query. This was an investigation into a software programme that was used by brokers. It was almost identical to an investigation in the UK some five or six years ago. The issue with the software was that it enabled brokers to see all competitors' prices a month before they came out. If they were then channelling that information back to the underwriters, they could adjust their prices. The investigation was brought to our attention by players in the industry telling us this had come up elsewhere. We worked with them in terms of getting an agreement or undertaking to ensure the software provider would not develop software that enabled that to happen, and the firms themselves said they would ensure they did not either send or receive information from other competitors. It was an example where the industry was in favour of having a reasonable compliance culture in regard to something that would have been quite serious if it had gone as far as allowing them to see each other's exact future pricing by risk category. That has been on our website since the summer. If the Senator wants further details, I can give them to her.