Pearse Doherty (Donegal, Sinn Fein)

-----is as we and the Alliance for Insurance Reform told the Government, that unless it got a commitment from the industry, the industry would pocket the reforms. That is exactly what has happened. What we have got from this industry - and the Minister of State is absolutely blind to this, as is his Government - are bumper profits. These were reforms I championed, legislation I drafted and got passed in this House and cases I brought to the Central Bank to ban some of the conduct that was there. The industry told us that if we introduced the reforms, it would target a 5% profit margin. What is it doing now? It is taking a 13% profit in public liability insurance.

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