Derek McDowell (Labour)

These companies are trying to have it every which way, which is hardly surprising because that is their business. They tell us that they can guestimate the number of policies with proceeds of under €500, to which this does not apply, but they will not have an estimate of the number of other policies with higher proceeds until such time as the Act comes into play. What they are really saying is that it is too much trouble. It may cause a little bit of trouble for them. Perhaps it is a little like Ryanair in that they are used to pocketing money for a service they did not provide or maybe it is factored into their profits on the assumption that nobody would collect this money. I assume that is part of the argument in this regard. We are here to represent the consumers and it for us to push them into an administrative effort, even it costs them a few euro.

Question put: "That the figure proposed to be deleted stand."

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