INSURANCE BLOCK EXEMPTION
February 1st, 2003
BY KEITH NUTHALLInsurance companies are to be given greater freedom to operate insurance pools and to engage with other companies in the joint calculation of risks, under new regulations announced today (Thursday) by the European Commission. The new 7-year insurance block exemption regulation also provides for the establishment of non-binding standard policy conditions and the testing and acceptance of security equipment. Brussels said the exemptions, which have been drawn up after intensive consultation with the insurance industry, specifically do not concern ...
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