Mr. Gerry Cross:

I fundamentally agree with the Deputy's point that it is important that the industry lives up to its commitment to show that these costs flow through to policy holders and that they are seen to flow through to policy holders. There is a question about the best way to do that, which is ultimately one for this committee and these Houses. As I said to Deputy Farrell, it is possible to say that we will create a new data source, put new obligations on the sector and have new activities in the Central Bank. That is one option. All that I would say is that, over the last three years, we have built something unique, the national claims information database, at the behest and valuable impetus of this committee. It is a rich and comprehensive set of data about the performance of the sector and what is or is not happening. It is a question for members as legislators. Is it best to use the existing technique, which will give an awful lot of information, or do we want to create something separate? As I mentioned in my response to Deputy Farrell, there is a cost to there being more tasks and ways of doing things for the Central Bank. That is ultimately an issue for these Houses.