Seán Barrett (Dún Laoghaire, Fine Gael)

Are there any particular obligations in respect of the auditors in dealing with the accounts of an insurance company? It is a very difficult and different set of accounts than those of any other business. Does the Minister agree there should be a responsibility and that a certificate should be issued every year by the auditors to the Department or the regulator indicating clearly satisfaction with the type of reserves such a company holds? Does the Minister agree that there should be some restrictions on insurance companies in respect of the type of investments in which they may invest because of the unique nature of the business?

This may be a matter for the Minister's colleague, but will the Minister contact his colleague in the Department of Enterprise, Trade and Employment in respect of the capacity problem? If some 20% of the motor market was held by Quinn Insurance, is the rest of the market capable of taking up that 20%? There may be a capacity problem from the point of view of someone who holds a policy with Quinn Insurance.

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