The final countdown for the Insurance Block Exemption

Linda O’Toole of Norton Rose says insurers have only a short space of time to influence the future shape of the Insurance Block Exemption Regulation that currently protects insurers from the full force of EC Competition laws

The Insurance Block Exemption Regulation (IBER) currently enables European insurers to cooperate and work together in four categories of horizontal agreements without having to justify their cooperation under the European competition law rules. IBER which was last renewed in 2003 and is due to expire on 31 March 2010.