The Hungarian Competition Office imposes a record cartel fine in the car insurance sector (Allianz)

On 21 December 2006 the HCO delivered its decision in the first large-scale cartel case in the Hungarian car insurance sector (Decision n° Vj-51/2005). In its proceedings the HCO investigated the two largest insurance companies' vertical relationships with car dealers (who also act as car repair shops in case of insurance events) and the agreements between the two insurance companies and certain insurance brokers. In its decision the HCO found that the vertical agreements between the car insurance companies and car dealers regarding the hourly wages to be paid to the car dealer for repair works carried out in case of an insurance event were capable of restricting competition and thus infringed Article 11 of the Hungarian Competition Act (“HCA”) (the equivalent of Article 81

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Gábor Fejes, Lia Scheuer-Szabó, The Hungarian Competition Office imposes a record cartel fine in the car insurance sector (Allianz), 21 December 2006, e-Competitions December 2006, Art. N° 12734

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