I856 - ICA: investigation launched into price comparators and insurance companies for suspected agreement on motor vehicle liability policies
PRESS RELEASE
According to the Authority, the companies involved regularly exchanged sensitive information on the economic conditions of direct sales by sharing reports prepared and distributed by the price comparison companies
The Italian Competition Authority has launched an investigation against the companies 6Sicuro S.p.A., CercAssicurazioni.it S.r.l. (“Segugio”),Daina Finance Ltd, General Representation for Italy (“ComparaMeglio”), Facile.it Broker di Assicurazioni S.p.A., Allianz Direct S.p.A., Admiral Intermediary Services S.A., B2C Innovation S.p.A., Bene Assicurazioni S.p.A., Compagnia Assicuratrice Linear S.p.A., Compagnia Italiana di Previdenza, Assicurazioni e Riassicurazioni S.p.A., FIT S.r.l. Società Benefit, Genertel S.p.A., HDI Assicurazioni S.p.A., Prima Assicurazioni S.p.A., Quixa Assicurazioni S.p.A., Verti Assicurazioni S.p.A. and Zurich Insurance Public Limited Company - General Representation for Italy.
The aim of the investigation is to ascertain whether the companies offering price comparison services and the insurance companies involved in the proceedings came to an agreement restricting competition by exchanging sensitive information on the economic conditions for the direct sale of motor vehicle liability policies. According to the Authority, the companies constantly and regularly exchanged sensitive information on the economic conditions for the sale of motor vehicle liability policies by sharing reports prepared and distributed by the price comparison companies. Furthermore, the agreement would have been in place at least since 2012 and would also have occurred during the period of the first lockdown imposed by the Government to combat the spread of Covid-19.
In particular, as a result of the agreement, insurance companies would have been able to charge consumers higher premiums for motor vehicle liability policies, through discounts mitigated by the knowledge of the commercial strategies and the price policy of competitors in the direct sales segment.
On Thursday 20 May, Authority officials carried out inspections at the premises of 6Sicuro S.p.A., CercAssicurazioni.it S.r.l., Facile.it Broker di Assicurazioni S.p.A., Admiral Intermediary Services S.A., B2C Innovation S.p.A. and Compagnia Assicuratrice Linear S.p.A.
Rome, 21 May 2021