Pool Re exempt from Competition Act for terrorism reinsurance
The Office of Fair Trading (OFT) has concluded that Pool Re’s rules for terrorism reinsurance for commercial property merit an individual exemption from the chapter 1 prohibition of the Competition Act of 1988.
Pool Re reinsures losses arising from acts of terrorism for all insurers of commercial property in the UK. The Pool Re arrangements enable its members to provide insurance cover for damage orOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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