Overview

During its review and renewal of the insurance block exemption, the European Commission signalled that it had identified certain areas of the insurance industry for further investigation under the competition rules with pooling arrangements, in particular, in the crosshairs.

Yesterday, true to its word, the Commission announced that it has begun formal proceedings to scrutinise pooling arrangements in the maritime insurance sector.

The investigation will consider whether claim-sharing and joint-reinsurance agreements between Protection & Indemnity Clubs (P&I Clubs) within the International Group of P&I Clubs (IG) restrict competition between the P&I Clubs and exclude commercial and mutual insurers who are not party to the agreements from the market.

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