Insurance
Insurers to pick and pay ‘independent’ overseers
The result of a dropped five-year investigation by the CCPC into insurance industry practices is being heavily criticised
Insurers are to appoint and pay the “independent” experts tasked with overseeing their compliance with competition law as part of an agreement reached with the country’s consumer watchdog which resulted in it dropping a five-year investigation into the industry, 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 ...