Insurers to appoint and pay ‘independent’ experts who oversee compliance with law

The move is likely to raise concerns over the effectiveness of the deals struck by the Competition and Consumer Protection Commission with insurers

22nd August, 2021
Insurers to appoint and pay ‘independent’ experts who oversee compliance with law
The Competition and Consumer Protection Commission (CCPC) last week closed its long-running probe into alleged cartel-like behaviour across the motor insurance industry. Picture: iStock

Insurers will appoint and pay the “independent” experts tasked with overseeing their compliance with competition law, as part of an agreement reached with the watchdog after a five-year investigation, the Business Post has learned.

The Competition and Consumer Protection Commission (CCPC) last week closed its long-running probe into alleged cartel-like behaviour across the motor insurance industry, after securing legally binding commitments from insurers that they would reform their internal competition law...

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