Seán Sherlock (Cork East, Labour) | Oireachtas source

I apologise for cutting across Mr. Thompson, but now we are drilling down into the nub of this. He states that the data is proprietary but, at the same time, he states that Insurance Ireland is yielding up sufficient data to statutory organisations and the Central Bank. Effectively, he is giving the impression, with regard to its intervention, that there is perfect knowledge in the sector because he stated it has the IIDS and InsuranceLink, notwithstanding the ANPR issues, and the private motor statistics with the Central Bank. Insurance Ireland is creating an impression that it is yielding the data unto Caesar, so to speak, but it is not telling us, in very real and simple terms, why the increase is happening. We accept a certain degree of provisioning and resetting in the market, and we accept that the insurance companies need to make a degree of profit, but not to this extent. We do not have visibility as premium holders on the level of profit that will be made and the stark increases that have been made. This is the real issue for motorists. To be fair about it, the risk profile for the vast bulk of motorists by any actuarial standard has not actually increased. We do not have perfect knowledge on what insurance companies settle out of court on the steps with solicitors. The witnesses will not give us this information.