Recently, the Government stated that the insurance (amendment) Bill would be priority legislation in the new Dáil term. A key aim of the Bill is to ensure that the Insurance Compensation Fund becomes liable for 100% of future claims in the event of an insurance company going out of business. Will that liability be applied retrospectively in order that all of the drivers who were covered by Setanta Insurance when it failed will have 100% cover?

The heads were approved in July. We anticipate pre-legislative scrutiny and publication of the Bill before the end of the year. As is almost always the case with legislation, it is not envisaged that it will be retrospective.