Mr. Alex Sinclair:

Correct. The Senator might reasonably ask why such an increase has taken place. The reason for it is our claims experience. Nobody in this country is prepared to discuss the matter of insurance with us. When we go to Lloyd's of London, which is the only group that is prepared to put together a syndicate to provide cover for us, we are told that Lloyd's will not go into that market because it cannot predict what way claims will go if it has to deal with them. It is a complete lottery.

We have lost four major events this year, including the Galway International Rally, which brought significant business to the Galway region in February, a time of the year when there was nothing else taking place in the region. All of our sporting activities are run by volunteers who cannot take the risk of taking on this huge premium. It is just not there. We do not have the reserves to provide for it. As a result, we are running on a week-to-week basis at the moment.

That is unsustainable.