Europe plans anti-competitive activity investigations

In an effort to determine the prevalence of anti-competitive activity, the European Commission (EC) will soon begin to investigate Europe’s commercial insurance market. Investigations will determine if regulatory barriers led to anti-competitive behavior in insurance sectors including energy, telecommunications and transportation, according to an EC spokesperson. This initiative is reportedly unrelated to recent US insurance industry investigations.
“The U.K. has a thorough competition regime based on the (European Union) regime on how competition is run,” a spokesperson for the Association of British Insurers says. “The British insurance market is open and highly competitive as it stands, and we will cooperate fully with the directorate general on competition.”