Many of us fear that there has been a high level of regulatory capture between the Department and the insurance sector over the years. In the same way as problems arose with the banking sector, the Department seems more concerned with prevention issues governing the operation of insurance companies, rather than recognising the consumer interest and welfare. It is a classic case of the consumer coming second to prudential concerns. This is unacceptable and I hope the new regulator for the insurance industry will exercise a more probing and exhaustive assessment of claims, analysis and statistics produced by the insurance sector.