Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

Insurance Companies deploy capital and capital is very fleet. If a sector in industry is doing poorly, whether it be agriculture, marts or taxis, and the capital required to underwrite it is loss-making, the holders of that capital will decide to close the book and leave. That is part of the problem we have. For a period of time, the level of awards was so high in this country that the insurance companies made losses.