THE State’s competition watchdog has made preliminary findings against five insurers, a broker and a trade body, alleging that they engaged in anti-competitive co-operation. The alleged anti-competitive co-operation consisted of public announcements of future private motor insurance premium rises as well as other contacts between competitors. These actions reduced levels of competition between the parties, the competition watchdog said. The anti-competitive co-operation activities probed include a practice which is commonly referred to as ‘price-signalling’. The relevant parties now have the opportunity to consider and respond to the preliminary findings.

Source: Irish Independent September 17, 2020 11:26 UTC