Ms Derville Rowland:

Until we do the work we cannot identify precisely what is going on. We agree that there is a risk and that the matter should be examined and we are doing so. The terms of reference for phase one are clear in that we must establish with a high degree of accuracy the pricing strategies, the models and approaches being employed by businesses. It is our intent to cover more than 70% or 80% of the motor and home insurance industry in Ireland. We will cover the industry providers, some of the brokers and the branches with delegated authority for pricing. We will move across all of their business models and make walk-throughs. We will meet the boards to ascertain precisely what is going on in order to identify what, if any, decision-making factors are employed in the course of dealing with the dual pricing issue in order that we can be very clear about the next phase of the work involved. It is an enormous, complex, wide and deep piece of work.