Antitrust, 700 billion fine to insurers

ROME – Rc auto, the infinite history. After the accusation by Europe to the Italian government, guilty according to the commissioners of having broken the EU directive on the free marketing of insurance products with the blockade of the RC cars implemented last March 28, today the Antitrust intervention has put in discuss responsibilities on the insurance issue. The competition guarantor struck hard, but aimed at companies: by inflicting on them a 700 billion lire megamult, the Antitrust Authority held them responsible for behaviors that “constitute restrictions that restrict competition”. The decision was taken by the Authority at the conclusion of an investigation begun 10 months ago against the main Italian insurance companies – those fined 39 – following some investigations conducted by the Guardia di Finanza. The 700 billion fine the companies have suffered for one of the two hypotheses of illegitimate behavior alleged by the guarantor: “the exchange of information realized by very many insurance companies, about 40, in the field of car insurance”, behavior that was deemed “of particular gravity” also because “it was suitable to determine higher commercial rewards than those that would be registered in a competitive market”.

On the basis of the Antitrust investigations, “the agreement took the form of a complex and articulated practice agreed between competing companies”, which exchanged “sensitive information” on the prices of policies linked to the car. The violation of the rules is “serious”, because the companies involved cover 80% of the market and for “relevance, detail and frequency of the information exchanged”. A real “information circuit” that made drivers pay the most expensive insurance.

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