Mr. Brian Hanley:

The role of the EU probably needs further examination. It probably has not been considered as much in recent years. It is an area that would benefit from greater scrutiny. I would not say that market size is the single biggest reason. Certainly nobody has officially said that to me, if that makes sense. I am sure it is a consideration. In 2019 - only a few years ago - awards in Ireland were a multiple of 4.4, or 440%, greater than those in the UK. That is relevant to prospective insurers looking to enter the market. Another relevant factor was the fact that the volume of claims was disproportionately high in Ireland relative to its size. Previously, the quantum meant that we did not know what the elbow was going to be worth in terms of a claim. The new personal injury guidelines are much more prescriptive and fair. By clarifying what one gets if one’s injuries are of a certain duration and a certain severity, they afford predictability and stability in the market, which to be fair to insurers is something they need. I fully take the Deputy's point about the European angle. It is something that needs to be explored further.