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The Irish Independent has reported that the Irish Competition Commission has called out the head of Insurance Ireland (which represents 95% of the domestic market) for saying that car insurance rates were set to rise by 25% in 2016 and that there was “further upward pressure on premiums”. The Commission said that statements of this nature may result in a degree of unspoken co-ordination of pricing decisions and may therefore constitute a form of price-signalling…
In early June 2015 the Competition Authority of Kenya fined the Association of Kenya Reinsurers about R91 000 for setting minimum premium rates for insurance companies tendering to provide group life cover to the National Intelligence Service employees. The fixing of minimum premium rates have been going on for years in Kenya. The reinsurers claim these are necessary to see that insurance companies remain healthy and are able to pay claims. The minimum premiums are actuarially…
In early June 2015 the Competition Authority of Kenya fined the Association of Kenya Reinsurers about R91 000 for setting minimum premium rates for insurance companies tendering to provide group life cover to the National Intelligence Service employees. The fixing of minimum premium rates have been going on for years in Kenya. The reinsurers claim these are necessary to see that insurance companies remain healthy and are able to pay claims. The minimum premiums are actuarially…