Clifford Chance

European Commission reconsiders insurance sector exemption from antitrust laws

5 August 2014

The European Commission (EC) has launched a consultation on the functioning and future of the Insurance Block Exemption Regulation (IBER).  The IBER exempts from prohibition under EU antitrust law certain agreements between companies in the insurance sector.  The current version of the IBER came into effect in 2010 and is due to expire in March 2017.

The EC will consider whether any parts of the IBER merit renewal, i.e. whether the insurance sector is still sufficiently exceptional to require an industry-specific exemption from competition law.  Abolishing or narrowing the scope of the IBER could increase the burden on insurers and reinsurers to self-assess the compliance of certain activity with EU antitrust law.

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