Mr. Kevin Thompson:

There are two things. We are working with the OPW to understand the protocols. That is one side of it and we will take any recommendation on board that will help us to understand the protocols better. We have no objection to that. The second side, as I referred to in my statement, relates to what happens when a demountable fails. Where will the liability rest then because of a failure or lack of human intervention? At the end of the day it is a protocol.

Equally, however, we accept that if protocols are deployed in a robust fashion and we understand them, insurers may be able to do something with that. We are working through that at the moment with the Office of Public Works, OPW. We believe that the memorandum of understanding, MOU, is working. We also believe that if the MOU was not in place, coverage rates would be far lower. We would be in a worse situation. Progress has been slow, but it has moved in the right direction. We have a high penetration rate compared to other European countries. Our figure of 98% is far in excess of other European countries. The flood cover that we actually provide is also in excess of other European countries.

In regard to doubts around Flood Re and the Flood Insurance Bill 2016, we are only adopting a cautious approach. We know what is working. We do not want to go down an avenue which undermines the good work that has been done to date, and I think it is only right for us as an industry-----