CCPC – Preliminary Report Findings
Thu Sep 17 2020
On 17 September 2020, the CCPC published its preliminary findings as part of its investigation into alleged price signalling by various parties in the insurance industry, including the IBA, during the period 2015-2016.
The CCPC has found that it has reasonable grounds to suspect that the IBA infringed competition law by participating in a concerted practice, which had as its object the prevention, restriction or distortion of competition in relation to the supply of private motor insurance between 9 January 2015 and 9 September 2016. These preliminary findings have since been published on the website of the CCPC .
Brokers Ireland strongly rejects the findings of the CCPC and strenuously denies that any steps taken by the IBA had as their object or effect the prevention, restriction or distortion of competition in the private motor market. Please see Broker’s Ireland press release here.
We will be responding formally to the CCPC and addressing and rebutting its claims in detail in due course.
Brokers Ireland was formed in 2017 following the merger of IBA and PIBA. We have in place a firm policy of seeking legal advice whenever appropriate and we have written procedures governing our organisation’s approach to competition law and conflicts of interest to ensure that we are in compliance with all applicable law.
Brokers Ireland’s focus as a Broker representative body is on the interests of our members and on taking steps and pursing aims that further the interests of Brokers.
On the Insurance Broker side, our new Insurance Broker brand is aimed at promoting to consumers the benefits of using a Broker. Our organisational priorities are for a level playing field/fair competition for all our members, for fair agency agreements that protect the interests of Brokers and for an end to dual/differential pricing. We will continue to advance these aims on behalf of all our Insurance Broker members for the remainder of the year and beyond.
CEO, Brokers Ireland