The Russian Competition Authority confirms the payment of the fine inflicted to an insurance company having implemented an anticompetitive agreement (VSK)

An insurance company transferred over 4 million RUB of unlawfully gained income to the budget* The Office of the Federal Antimonopoly Service in the Tver region (Tver OFAS Russia) received a confirmation from “VSK” Insurance OJSC on executing a determination on the case on an unlawful agreement with “Otkrytie” Bank. Tver OFAS Russia established facts of including in insurance agreements the conditions that increase insurance costs for borrowers, as well as the facts of including in loan agreements

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Russian Competition Authority, The Russian Competition Authority confirms the payment of the fine inflicted to an insurance company having implemented an anticompetitive agreement (VSK), 14 July 2014, e-Competitions Bulletin July 2014, Art. N° 75616

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