In December 2007, the London office of EAPD held an industry workshop to provide a forum for discussion of the European Commission’s Final Report into Business Insurance. The report sets out the findings of the EC’s sector commission inquiry into business insurance which was initiated in June 2005. It raises concerns about the operation of two areas of business insurance: industry practices in the reinsurance and coinsurance markets involving the alignment of premiums and transparency of remuneration and conflicts in insurance brokerage.
A cross-section of views were aired on the key issues raised in the report, including the alignment of terms and conditions in the subscription market, broker conflicts of interest and the retention of the Block Exemption Regulation for insurance. EAPD will be submitting feedback to the Commission on a non-attributable basis and a copy of the response paper will be posted here.
More information about the background and responses to the report can be found here.
