Mr. Fergal O'Leary:

We hope to complete that aspect of our study within 12 months. We do not need to tell the committee the issues that are at play in terms of businesses being able to get public liability insurance in the first instance. The second issue is the volatility in prices people face. How can a business or individual make an investment decision if they do not know what their cost base will be next year or the year after? This is something we have been told. The third issue is whether there is a market for this service in Ireland at the moment. We want to produce a report as quickly as possible because the cost of insurance working group has done fine work along with the Personal Injuries Commission, of which we have been a part. We want to build on the work of those two bodies and see whether anything else can be done quickly. This relates to Senator Davitt's question about whether there is confidence in the market, including the motor or public liability insurance markets. We want to promote the message that there is a market here and a number of things could make it better so that there will be more competition in future. That is our focus in terms of the investigation and the study, which are two separate things running parallel.