The Commission published its interim report on the competition inquiry into the business insurance sector, which shows evidence of fragmented markets and highlights factors that may adversely affect competition.
Main findings include:
Sustained differences of insurers' underwriting profitability in different Member States suggest a significant degree of market fragmentation along national lines and the potential for price reductions.
In some Member States, long-term insurance contracts as well as certain distribution structures may reduce the scope for competition.
Some insurance intermediaries can be exposed to conflicts of interest, in particular when they provide not only advice and services to their clients, but also to insurers and/or receive remuneration from the insurers.
The Commission will present the preliminary findings of the sector inquiry to stakeholders at the public hearing on 9 February 2007.
The consultation period on the preliminary findings will lasts until 10 April.
The Final Report of the Sector Inquiry will be published in September 2007.
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