Risk Confusion: Flawed Report Threatens Insurance Block Exemption Renewal
The insurance block exemption regulation (IBER) protects statistical cooperation and certain joint insurance arrangements (inter alia line slips, pools, consortia, joint binding authorities). The EU report examining the IBER’s renewal concludes it is either superfluous or superseded. But the report leaves many practitioners scratching their heads. The report miss-describes industry fundamentals and omits essential practices benefitting…