"The new insurance block exemption Regulation: a modernised framework for insurance industry and consumers, following extensive consultation"*Introduction On 27 February 2003 the European Commission adopted a new block exemption Regulation for the insurance sector [1], which replaced the previous insurance block exemption Regulation [2] on its expiry at the end of March 2003. The new Regulation grants an exemption under the European competition rules, on conditions, to certain types of agreements in the insurance sector, namely agreements on: – the establishment of common risk premium tariffs; – the establishment of common standard policy conditions; – the joint coverage of certain types of risks; – the testing and acceptance of safety devices. The new Regulation will be valid for
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The EU Commission adopts a new Block Exemption Regulation for the insurance sector
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