Mr. Kevin Thompson:

I can only refer back to my earlier comment. We are in a far better position than before the memorandum of understanding was signed, because prior to that and prior to the good work we have done with the OPW, there was no visibility on the part of insurers in terms of the works that had taken place and the technical standards of those works which insurers could incorporate in terms of their risk assessment and whether to take risks.

As previously stated, we are in a catch-up exercise now. We will filter that information down through to each of the insurers. What should be realised as well is that Insurance Ireland passes on that information. We have accepted the information in good faith and our members look and act on the information in good faith. We have entered into the spirit of the memorandum of understanding.

We need to know our members get that information. As I said in my opening statement, insurers may have reached their capacity in terms of the level of insurance they can issue in a specific area. They may have such a concentration that they cannot insure any more. Other insurers will not have that degree of concentration in a given area and will have a higher degree of risk appetite. In that case, they will be able to enter the market and provide cover. That is generally how the market works. They will compete against each other. We are still early in the process. We will not have come through a full cycle of this until June of this year. After that point we will be able to examine the progress of the scheme. That is the position at the moment.

We have entered the arrangement in good faith. I believe that if we look back to where we were previously, it is clear that we are in a better position now. More important, we have a protocol in place now that allows us, as a body, to engage with the OPW and exchange information. That was not in place before.