Mr. Peter Boland:

I will deal with the IBEC-IIF protocol. The cost of insurance working group, CIWG, report is written in very parliamentary or diplomatic language, for want of a better word, but I get the impression from reading it that there was quite a bit of frustration in the Department of Finance when it turned out that a protocol already existed which had not been brought to its attention during the initial work on the cost of insurance working group. It appears now from the fourth quarterly update that the insurance industry is saying that that protocol does exist but it has been superseded by the Central Bank's consumer guidelines. We have had a good look at the Central Bank consumer guidelines and, to be honest, the contrast is like saying that one no longer needs a driver licence because one has a new membership card for Xtra-Vision. They are completely separate. It is completely inappropriate and there is no connection between the two. The suggestion that the Central Bank guidelines could replace a detailed protocol like the one we have put into our submission is almost farcical. There is some strong resistance in that regard, but it is only from one side of the coin.

Regarding Senator Reilly's question on the blue book, we were told at that meeting that the Central Bank is independent. The Central Bank made that decision, and that is its decision. As we have outlined, we are not specialists in this area but if the Central Bank has any role in terms of protecting the consumer, it needs to get with the programme and bring the blue book back as the bare minimum in terms of oversight of the area.