Kieran O'Donnell (Fine Gael) | Oireachtas source

I do not buy that analysis. If one is providing reserves based on a combination of actual awards plus expected awards, that is a finite and absolute figure and that figure is then built into a provision within the accounts of the individual insurance companies which dictates the overall level of the premiums they will charge. If the overall number of claims is down by 55,000 and the overall number of awards, particularly in the courts, is down by 40%, it stands to reason that the average could go up. If there are fewer people claiming, the average could go up. I do not wear that argument. It should be the amount of awards overall for the company that dictates the level of premiums and the way it prices among all its customers. I do not buy the argument on the average.