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New competition rules for the insurance industry

Utgave: 3 / 2010 | Kategori: EU og internasjonal forsikring, Forsikringsrett, Markedsføring og konkurranse | Forfatter: William McKechnie

On 24 March 2010, the European Commission adopted a new Block Exemption Regulation (“BER”) for the insurance sector. The 2010 BER makes a number of significant changes to the completion law rules applicable to the insurance sector. In particular, while the block exemption continues to apply to certain types of information exchange and to co-insurance and co-(re)insurance pools, standard insurance policy conditions and technical specifications for security devices are no longer exempted from the prohibition on anti-competitive agreements. This article outlines the changes introduced by the 2010 BER and examines the potential impact these changes will have on the day-to-day operations of insurance companies within EU.