The Commission will have to decide whether or not to renew the BER after March 2010. The consultation paper determines how the BER is being used and what its impact on the various insurance markets in the EU are. The consultation will be combined with targeted questionnaires sent to industry, national regulatory and competition authorities, and consumer groups.
It sets out the comments the Commission received during the sector inquiry into business insurance, and from a recent consultation of national competition authorities. It also sets out a number of questions generally and in relation to each exemption under the BER.
Specific areas of interest to the Commission include whether the business risks or other issues in this sector make it special and different to other sectors which operate without a BER, and whether the BER gives rise to any anti-competitive effects which harm consumers such as higher prices or reduced supply of certain insurance products.
Another area is whether operation of the insurance sector without a BER would lead to a heavier burden on supervisory authorities and competition law enforcement.
Following the consultation the Commission will draft a report and conduct an impact assessment. If the Commission decides to renew or revise the BER, the Commission will consult on a draft. If no further BER is to be enacted, the Commission will publish a Communication to that effect in 2009.
Deadline for comments is 17 July 2008
Press release
Consultation paper
Furhter information here
© Graham Bishop
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