Neither the Tánaiste nor the Government as a whole can force the insurance industry to set its premia. In addition, this country cannot hold back the worldwide rationalisation process in the industry which simply mirrors what is happening here. The reason there is not more competition here is that it is not a profitable market for the insurance industry. The initiative being taken by the Department and the Competition Authority will examine the reasons the insurance market has not been profitable, and tackle the problems involved in line with the MIAB's 67 recommendations.
A specific timeframe for delivery has been outlined on which the interim PIAB will deliver over the next 18 months. It would be incorrect for the Deputy to suggest otherwise. The stakeholder responsibility for delivery, and the associated timeframe, is clearly set out in the action plan.
The insurance industry has been asked to respond to those initiatives, particularly that being taken in respect of the cost of claims, including processing, legal and medical costs etc., which are all being tackled. The action plan, as the Deputy stated, suggests there has been a 31% increase and underlines the assumptions on which this figure is based. Therefore, there is no reason to believe we cannot achieve that reduction of 31%.
In addition, in the area for which I have responsibility, namely, health and safety, it is quite clear that there is a very considerable level of fraudulent claims being made in this country. We, together with the Department of Justice, Equality and Law Reform, intend to bring about a number of immediate initiatives to deal with fraudulent claims and, in particular, to deal with claims in the area of public liability which, as we have seen with some recent very high profile cases, are causing insurance costs to be much higher than they should be.