Michael D'Arcy (Wexford, Fine Gael)
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There is no role for the State because if the State intervenes, the same rules and regulations under which the private insurance companies are governed and the same awards that are awarded by the courts will apply to a State company. If the State enters the market to do so, the same regulations and the same Solvency II rules will apply. On each occasion where there is an outlying award outside the book of quantum, the insurance companies will have to have those figures underwritten. If it is a car accident where somebody breaks their arm and the book of quantum says it is a certain amount-----