Phil Hogan (Carlow-Kilkenny, Fine Gael)

Is the Minister prepared to indicate her estimate, which she would have gleaned from personnel she had appointed to the Personal Injuries Assessment Board, Ms Dowling or others, of what small businesses are likely to expect in a reduction in their insurance costs during the year? They have to proceed with financial planning.

I welcome more competition in the market. I also welcome what the Minister said regarding potential new licence holders who will trade in the market. That is an important step.

Given all the planning that has taken place to establish this board, it was indicated that there would be a 31% reduction in the event of the insurance reform agenda being fully complied with and fully completed. I am disappointed the Minister is not prepared to give an estimate of the likely reduction in insurance costs, particularly in terms of employer's liability and public liability insurance for small businesses arising from the establishment of the PIAB. That is what matters, namely, what the establishment of the PIAB will mean in terms of the reduction of insurance costs for the consumer. The Minister might be more forthright in indicating what she expects from the establishment of PIAB in terms of a reduction in insurance costs.

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