1 / 1

Insurance Block Exemption Regulation (IBER) review

Commission adopt Regulation Expiration of current IBER. End of current Consultation. Insurance Block Exemption Regulation (IBER) review. Review. March 2010. Overview

wing-guy
Download Presentation

Insurance Block Exemption Regulation (IBER) review

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Commission adopt Regulation Expiration of current IBER End of current Consultation Insurance Block Exemption Regulation (IBER) review Review March 2010 Overview In 1991, Council Regulation No 1534/91 empowered the Commission to exempt from the prohibition of Article 101(1) (rules on competition) of TFEU, by means of a regulation, certain categories of agreements, decisions and concerted practices in the insurance sector. The Council regulation specifies that the types of cooperation for which the Commission may issue a block exemption under Article 101(3) TFEU are: (a) the establishment of common risk premium tariffs based on collectively ascertained statistics or the number of claims; (b) the establishment of common standard policy conditions; (c) the common coverage of certain types of risks; (d) the settlement of claims; (e) the testing and acceptance of security devices; (f) registers of, and information on, aggravated risks, provided that the keeping of these registers and the handling of this information is carried out subject to the proper protection of confidentiality. At present, the exemption covers two types of agreements between (re)insurance undertakings: a) Agreements with respect to joint compilations, joint tables and studies; and b) Common coverage of certain types of risks Co(re)insurance pools. Since then, the Commission has enacted three block exemption regulations for the insurance sector. The current IBER was adopted in March 2010 and will expire on 31 March 2017. March 2017 November 2014 Latest News The European Commission adopted Regulation (EU) No 267/2010 of 24 March 2010 on the application of Article 101(3) of the Treaty of the Functioning of the EU (TFEU) to certain categories of agreements, decisions and concerted practices in the insurance sector. If insurers enter into agreements that fulfil the IBER conditions, they can be certain that such agreements are exempted under Article 101(3) TFEU. The IBER exempts two types of cooperation between (re)-insurers: (i) joint compilations, tables and studies, and (ii) common coverage of certain types of risks ("co(re)-insurance pools"). The IBER will expire on 31 March 2017 and the Commission is required to submit a report in early 2016 to the European Parliament and Council on the functioning and future of the IBER. The Commission has published a consultation on a review of the Insurance Block Exemption Regulation. This Regulation is a sector-specific legal instrument that allows (re)insurers to benefit from an exemption to the prohibition of anti-competitive arrangements. At present, the exemption covers two types of agreements between (re)insurance undertakings: a) Agreements with respect to joint compilations, joint tables and studies; and b) Common coverage of certain types of risks Co(re)insurance pools. The Consultation is open until 4 November 2014.

More Related