The European Commission adopts new and streamlined insurance block exemption

The European Commission has today adopted a new Insurance Block Exemption («New IBER»), exempting certain categories of cooperation in the insurance sector from the prohibition against anticompetitive cooperation contained in Article 101(1) of the Treaty on the Functioning of the EU («TFEU»). It comes into force on 1 April 2010 and renews, with certain modifications, two of the four cooperation types exempted in the current block exemption (Commission Regulation 358/2003 [1]) («Old IBER»), which expires on 31 March. The adoption of the New IBER follows the Commission's two-year review of, and consultation on, the Old IBER, during which time it considered three key questions in relation to each of the four categories of agreements exempted by the Old IBER, namely: Whether the business

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Frances M. Murphy, Natasha Hall, The European Commission adopts new and streamlined insurance block exemption, 24 March 2010, e-Competitions Bulletin March 2010, Art. N° 33705

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