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Member, Beacon International Group, Ltd.
BRUSSELS, BelgiumThe European insurers' association, the Comité Européen des Assurances, has made a series of policy recommendations to the European Commission regarding its inquiry into competition in the European business insurance sector.
The E.C. published an interim report in February, which highlighted areas, such as horizontal cooperation, it believes may hamper competition in the European business insurance sector. It is expected to publish its final report on competition in the sector in September.
In responding to the interim report, the CEA said it "strongly supports" the retention of the block exemption to certain European Union rules on cooperation.
The CEA also said it believed the E.C.'s report overstated the profitability of the sectora measurement which the E.C. said it believed may be indicative of anti-competitive behavior in some sections of the market.