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EU: Regulators say antitrust exemption for insurers not needed

By  |  March 17, 2016

A six-year scheme which exempts insurers from antitrust rules under certain conditions is no longer necessary, EU regulators said on Thursday, following a two-year review.

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    Adopted in April 2010, the insurance block exemption regulation sets out the conditions under which insurers can exchange information on specific risks without running foul of the 28-country bloc’s strict competition rules.

    The European Commission said the system may not be required any more as a study showed fewer than 50 institutionalized pools may be covered by the exemption.

    “At this stage, the Commission’s preliminary view is that it is no longer necessary to maintain sector-specific block exemptions in this field,” the EU antitrust authority said.

    It will make a final decision before March 2017 whether to renew the regime, modify it or scrap it.

    Full content: Reuters

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