The EC is not taking AIRMIC's views into consideration in its proposals for reforming the block exemption
AIRMIC representatives have complained that the European Commission competition directorate is not taking proper account of the views of commercial insurance buyers in its latest proposals on the future of the block exemption for insurance. A presentation (on 30 September) at the seminar of the Federation of European Risk Management Associations (FERMA) in Brussels by a case handler from the directorate provoked a strong response from several countries.
The risk managers argued that the Commission was taking too much account of the views of the insurance industry, especially intermediaries, when it comes to the issue of co-insurance and how much insurers can work together on large
programmes. Summing up the feelings of UK members, AIRMIC chief executive
John Hurrell said, ‘The predominant view we are getting from the Commission is from the supply side, and most commercial buyers feel they have not been adequately represented.’