Dr. Declan Jackson:

MIBI is the Motor Insurers Bureau of Ireland and its role is to pay claims associated with untraced or uninsured drivers. If one of us was misfortunate enough to be hit by a stolen car or something like that, MIBI would pay that claim. It operates on the basis of a pay-as-you-go model, so each year it will look at its claims. If a driver at fault could not be identified or found, MIBI will step in, in conjunction with the State's responsibilities under the European regulations, and pay that compensation. It funds itself on a pay-as-you-go model, so it levies a cost on the insurance industry. I believe its annual run rate is approximately €60 million.