Previously, the Minister for Finance stated in the Dáil that his intention is to bring certainty to the structure of the insurance compensation framework, particularly in the event of the liquidation of an insurer that is providing motor insurance in the State. Under current legislation, payments can only be made out of the insurance compensation fund. With the approval of the High Court, it can make payments up to 65% or €825,000, whichever is the lesser. Draft legislation has been prepared by the Government, which moves to a 100% cover regime in cases where an insurer, like Setanta, has gone into liquidation. Constituents of mine in Dublin North West, who are affected by such matters, have raised concerns that some payments will not be retrospective under the proposed legislation. Will the Taoiseach outline when this legislation will be brought to the House? Will it address the concerns of my constituents?

We expect the publication of the insurance Bill in the first three months of this year but, as is almost always the case, legislation cannot be retrospective.