Tag Archives : IBER

(Re) Insurance pools to remain outside the scope of EU competition rules

FERMA has called for renewal of the Insurance Block Exemption Regulation (IBER) for (re)insurance pools in its response to the European Commission consultation exercise.

The Commission launched the consultation in August (see here) to begin its assessment whether the claimed benefits for the insurance market and customers of insurance pooling still justify the special treatment they receive from EU competition authorities. Thirty-six organisations have provided their responses (consultable here) and the Commission must provide a report to member states before 31 March 2016 with the objective of deciding on its renewal in 2017. Continue reading


Coverage of the largest and exceptional risks still needs an exemption from EU competition rules

In a response submitted to the European Commission on Tuesday 4 November, the Federation of European Risk Management Associations (FERMA) has called for renewal of the Insurance Block Exemption Regulation (IBER) for (re)insurance pools.

The Commission launched a consultation in August to begin its assessment whether the claimed benefits for the insurance market and customers of insurance pooling still justify the special treatment they receive from EU competition authorities. The Commission must provide a report to member states before 31 March 2016 with the objective of deciding on its renewal in 2017. Continue reading


Coinsurance: new review of Insurance Block Exemption

The European Commission has taken the first step towards the review of the Insurance Block Exemption Regulation (IBER), which will expire in 2017. A consultation was launched on 5 August and will last until 4 November. This must be seen as a first round to collect the views of all stakeholders dealing in some way or another with the insurance practices covered by the IBER.

The IBER is a sector-specific legal instrument that grants an exemption from EU antitrust rules for insurance practices like co(re)insurance pools, compilations and tables. The first IBER dates back to 1991 and was renewed in 2003 and 2010. Continue reading


Co-insurance works, say FERMA and E&Y

The long awaited Ernst & Young study on co(re)insurance pools and on ad-hoc co(re)insurance agreements on the subscription market was released in February.

On 12 March 2013, members of the FERMA team attended the workshop organised by the European Commission to present the main findings of the study to insurance and risk management industry stakeholders. Continue reading