Watchdog issues clarification on public liability insurance probe

Insurance Business Magazine | August 16, 2019

“The CCPC is not investigating a breach of competition law in the public liability insurance market.”

Those were the words of Ireland’s Competition and Consumer Protection Commission (CCPC) when it clarified that its current activity is limited to carrying out a market study – the aim of which is to examine how both the market and competition within it operate, and whether any competition practice or method affects pricing levels. 

“The CCPC is independent in the exercise of its enforcement functions,” explained the Irish agency. “It cannot be directed to investigate suspected breaches of competition law in any particular sector or by any particular set of economic operators.

“The commencement of this study follows a ministerial request from the Minister for Business, Enterprise and Innovation, Heather Humphreys TD.”

It added that the market study is in the early stages, and that the CCPC will undertake an extensive process of engagement with all relevant stakeholders once the terms of reference have been finalised.

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