Europe braces for insurance investigation
The European Commission’s remarkably thorough bureaucrats have called for tenders from economists prepared to examine the structure of the commission’s inquiry into the European Union’s insurance market.
According to UK trade magazine Reactions, the EC has asked for comments on the questionnaires it will send to companies that are part of the investigation. Wry smiles aside, an outline of the questionnaire suggests the commission is out to put every facet of the industry under the microscope. It will focus on features of the market including reinsurance, structure, barriers to market entry, the outcome of the competitive process and policyholders’ ability to switch suppliers.