IBER: Facilitating insurance innovation and competition

Maintaining competition and innovation is essential in any market to ensure that consumers receive effective products and services at reasonable prices.

Whilst industries often make considerable efforts in this regard, policy makers can also play an important role in stimulating competition and innovation in marketplaces.

Take, for example, the insurance industry. In 2003, EU policy makers enacted the insurance block exemption regulation (IBER), which allows insurers to cooperate in certain ways, such as in compiling data and conducting joint studies. As the European Commission analysis has previously found this, in turn, enables the industry to better understand and price risks.

Reported by  OPINIONS on Europolitics  •  29 January 2015 Last updated 12:55
By William Vidonja, head of conduct of business department, Insurance Europe