EU antitrust authorities on Thursday accepted an offer from Irish insurers’ association Insurance Ireland to open up its data-sharing platform to non-members and apply fair criteria for access to avoid a potentially heavy fine.

Last year the European Commission instructed the industry body, which covers more than 90% of the Irish motor insurance market, to restrict the access of certain insurers and their agents to its data system called Insurance Link.

Earlier this year, Insurance Ireland submitted its concessions to the EU’s competition watchdog, which then sought feedback from competitors and users.

Faced with antitrust charges, a group of Irish insurers will unblock a platform for non-members

“The committee has found that Insurance Ireland’s final commitments will ensure market participants’ access to the Insurance Link platform, and has decided to make them legally binding on Insurance Ireland,” the EU executive said in a statement. communicated.

Concessions include allowing non-members access to Insurance Ireland’s information exchange system, adopting fair and non-discriminatory access criteria for all applicants from Ireland and other countries of the EU, as well as the establishment of a fair and non-discriminatory pricing model.

(Report by Foo Yun Chee)

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European carriers