Dr. Declan Jackson:

On the calculation of premiums, a recently completed consultation process focused specifically on the way in which motor insurance premiums are calculated. This reflects the desire for more information. We have provided standard information, as we were required to do on the costs of the insurance, as to the factors that lead into premiums. This is probably a direction of travel that will go into other classes of liability business in terms of how the premium is calculated. While I am speaking from memory and stand open to correction, I understand the consumer protection code requires that a policyholder must be informed prior to a settlement being made.