Mr. Damien Owens:

Engineers operate as individual companies or individual members. They hold professional indemnity insurance as part of their work. As they retire, they typically have tail-off insurance for a period of approximately seven years. In this instance, there is a small number of approximately 30 engineers on the scheme. If we look at the quantum of €2 billion, a good deal of liability could potentially fall to them. Equally, given the length of the scheme the set remediation timeframe could be up to 40 years. Many of these engineers may have retired and the insurance will not exist.