The European Commission is reportedly reconsidering certain antitrust exemptions offered to the insurance industry.
The Commission has sent questionnaires to shareholders of the industry to gain insight into the opinion of the Insurance Block Exemption Regulation, which allows certain agreements between insurance companies that would normally be against competition rules. According to reports, agreements regarding joint studies and compilations, and agreements regarding common coverage are both allowed.
But the Commission is reportedly seeking comment on whether the exemptions are justified and whether they should be revised. Respondents have until November 4 to respond to the questionnaire.
The IBER is set to expire in March 2017.
Full content: FTSE Global Markets
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