Insurance Block Exemption — under review

On 5 August 2014, the European Commission launched a consultation on the functioning and future of the Insurance Block Exemption Regulation (IBER), which exempts certain agreements between companies in the insurance sector from the EU antitrust rules.

The commission issued a questionnaire seeking the views of stakeholders to determine whether the IBER should be renewed, partially renewed or abolished as a whole. The current IBER came into force in March 2010 and is due to expire in March 2017.

If abolished, insurers will need to self-assess the compliance of their activities with EU competition laws, which can be a very onerous, time-consuming and expensive task. And undoubtedly it will also lead to legal uncertainty for businesses…

Click on the link below to read the rest of the Stephenson Harwood briefing.

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