The Commission's findings also show that neither agreements on standard policy conditions nor agreements on security devices appear to be specific to the insurance sector. Standard policy conditions are also agreed in other sectors including banking.
The revised draft Block Exemption Regulation proposes to renew two of the four categories of agreements currently exempted by the Block Exemption Regulation, namely information exchange and insurance pools, with certain amendments.
The Commission therefore asked the following key questions:
a. Is the insurance sector "special" compared to other sectors, with an enhanced need for cooperation?
b. If so, does this enhanced need require a legal instrument to protect or facilitate it?
c. If so, what is the most appropriate legal instrument?
The Commission considers that two forms of cooperation that appear specific to the insurance sector, namely agreements in relation to joint calculations, tables and studies and co(re)insurance pools, should continue to be facilitated by a Block Exemption Regulation, with certain changes. The Commission suggests the following key changes to the exemption for information exchange:
· an amendment of the term to "joint compilations, tables and studies"
· exchange of information only where it is necessary
· access to data shared for interested third parties such as consumer organisations, with a public security exception.
The Commission suggests the following key changes to the exemption for pools:
· a change to the approach to market share calculation in order to bring it into line with other general and sector-specific competition rules
· a rise in the flexibility percentage for market share thresholds by 3 per cent
· an amendment to the definition of "new risks".
The Commission's findings also show that neither agreements on standard policy conditions nor agreements on security devices appear to be specific to the insurance sector.
Deadline for comments is 30 November 2009.
© European Commission
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