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HomeSwitching of tangible and intangible assets between different insurance products
Studies on issues pertaining to the insurance production process with regard to the application of the Insurance Block Exemption Regulation (IBER)
Switching of tangible and intangible assets between different insurance products
Studies on issues pertaining to the insurance production process with regard to the application of the Insurance Block Exemption Regulation (IBER)
Publication metadata
The Insurance Block Exemption Regulation (IBER) grants an exemption to the application of competition rules to two categories of agreements in the insurance sector: information- and risk-sharing agreements. There are, however, difficulties in defining the relevant market and, as a consequence, in applying the market share thresholds that would be required to establish the exemption. This study by Europe Economics investigates supply-side substitutability (SSS) in the context of, large, unconventional non-life risk, such as nuclear, cyber and natural catastrophe. An investigation of SSS is important because market share thresholds are crucial to establish the exemption of pools as per Article 5 of IBER. The study’s focus is on the ability of insurers to switch tangible and intangible assets between different insurance products in the short-term, and on identifying the various constraints that may impede this process. Our work implies that there is scope to, at least, switch assets to a small–moderate extent in unconventional non-life insurance in the short term. There is likely greater scope for the switching of assets to increase production in the ‘more conventional’ of the unconventional risks.
- Published:
- Corporate author(s): Directorate-General for Competition (European Commission) , Europe Economics
- Themes: Banks, insurance , Competition policy
- Subject: co-insurance , competition law , EU competition policy , insurance , insurance company , insurance law , reinsurance
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| ISSN | ISBN 978-92-79-61487-3 | DOI 10.2763/036576 | Catalogue number KD-02-16-917-EN-N |
- Released on EU Publications:
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