BLOCK EXEMPTION
March 1st, 2003
BY FRITZ BRETTUK insurance consumers will benefit from a new 7-year regulation adopted by the European Commission providing for a block exemption authorising certain types of co-operation agreements between companies, say industry officials. The regulation, drawn up after intensive consultations with the industry, including the Association of British Insurers, covers agreements that include the establishment of non-binding standard policy conditions, the exchange of statistical information for the calculation of risks and the creation of insurance pools. What it ...
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