Industry must act on EC competition conclusions

The “open verdict” means insurers need to address EC concerns

The final report into the competition sector inquiry into business insurance has fallen short of accusing the industry of anti-competitive practices but the tone of the report has left experts in little doubt that the industry is still being closely watched. Writing in this month’s issue of IR&A , competition lawyers John Pheasant and Jean-Michel Coumes of Hogan & Hartson say the Commission is taking a notably “less interventionist approach” in the business insurance inquiry than it has adopted in other sector inquiries and that the industry should use the time it appears to have been given to “put its house in order”.