AGCM

JOINT PRESS RELEASE

AGCM (ITALIAN COMPETITION AUTHORITY) AND IVASS (INSURANCE SUPERVISORY AUTHORITY) JOIN FORCES TO PROTECT THE CONSUMER: NO FORCED SALES OF ONLINE INSURANCE ACCESSORIES

AGCM (Italian Competition Authority) and IVASS (Insurance Supervisory Authority) took to the field with a co-ordinated action against forced sales of online insurance accessories and against opt-out mechanisms, which force the consumer to “de-select” by clicking the offers which he does not like.

The two Authorities have found that some insurance companies that work on the internet, during the process of quoting online match mandatory car insurance with collateral guarantees, such as fire and theft of the vehicle, injury to the driver, roadside assistance, legal protection, through an automatic pre-selection mechanism. The consumer, if not interested in the purchase, therefore has the obligation to exclude such guarantees (known as opt-out).

The Antitrust Authority, by accepting the commitments offered by Linear SpA (Unipol group) and Zuritel SpA (“Zurich Connect” trademark) in the course of preliminary proceedings initiated under the Consumer Code, has changed to a process where the consumer must explicitly express their wish to acquire a collateral by selecting with a click the appropriate box (known as opt-in). The commitments also include measures meant to introduce greater transparency in advertising and the procedure of online purchase of insurance policies, increasing consumer awareness in the choice between the offers of various companies, the more convenient product and the one most suited to its needs.

Simultaneously, the IVASS intervened with a letter addressed to all the insurance car companies requesting the removal within 90 days from the online quotes of any combination of forced collateral guarantees, since it is contrary to the principles of fairness and transparency.

Rome, 02 April 2015