The establishment of the PIAB is a key element of the Government's insurance reform programme. Ireland's reform initiatives are being watched closely by the UK where the court reform programme introduced in 1999 has failed to reduce litigation costs and businesses there are now facing a growing insurance cost crisis. I am convinced the introduction of the PIAB as well as the other reform initiatives being undertaken by the Government will lead to a properly functioning market that will attract new entrants into the market and provide the much needed competition to drive premia down further. I commend the Bill to the House.