The union’s current insurance block exemption (BER) will expire in just two years, and EU Competition Commissioner Neelie Kroes is faced with deciding to extend the BER as the industry would like, or allow it to lapse. Kroes says she needs to be convinced that the exemptions are justified in terms of the actual benefits they bring to competition and to consumers.
The BER allows insurers to meet and discuss non-binding standard policy conditions and exchange data on calculating risks and setting up insurance pools.
Kroes announced in a statement, "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."