The German Federal Court of Justice upholds the judgment of the Dusseldorf Higher Regional Court rejecting the Federal Cartel Office’s definition of the relevant market for professional indemnity insurance (Versicherungsstelle Wiesbaden)

1. The «Versicherungsstelle Wiesbaden» is a co-insurance pool offering professional indemnity insurance to public accountants, accounting firms and mutual auditing associations (below: accountants). It is jointly operated by four major private insurance companies (Allianz, AXA, R+V and Victoria/ERGO). On 10 August 2007 (B4-31/05), the German Federal Cartel Office (FCO) prohibited further operation of the insurance pool [1]. Solely the joint professional indemnity insurance for the four major accounting firms, the so called «Big 4», was exempted from this decision because the FCO, exercising its discretion, deemed the joint offer to these powerful buyers not to endanger competition in a way that required intervention. According to the FCO's decision, the joint operation of the insurance

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Petra Pohlmann, Christian Wissing, The German Federal Court of Justice upholds the judgment of the Dusseldorf Higher Regional Court rejecting the Federal Cartel Office’s definition of the relevant market for professional indemnity insurance (Versicherungsstelle Wiesbaden), 17 September 2008, e-Competitions September 2008, Art. N° 34790

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