Insurance Regulation & Accounting
Block exemption undergoes makeover
The European Commission has confirmed that it intends to limit the scope of the existing block exemption that has protected
insurers from breaching certain European competition rules in the course of their business for seven years. In a new consultation
on its revised legislation for the insurance sector, the European Commission will only renew two of the four existing exemptions
and furthermore it has significantly reworked the two exemptions it proposes to renew in March 2010, when the current block
exemption is due to expire.
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