Report Faults E.U.'s Insurance Sector

Law360, New York (January 24, 2007, 12:00 AM EST) -- Europe’s businesses may be paying too much for insurance, according to an interim report released Wednesday by the European Commission.

The E.C.’s 155-page report found problems at varying levels of the business-insurance market that could be hampering competition, and suggests that small- and medium-sized enterprises in particular are faced with a dearth of competition.

Disparities in profitability in different E.U. member states indicate a “potential for price reductions,” according to the Commission, as well as national fragmentation that runs counter to regulators’ goal of a fully...
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