Post reports that motor insurance providers in Ireland have been raided by officials from the European competition watchdog.
The unannounced inspections, carried out by the European Commission, were described as a ‘preliminary step’ in a wider investigation.
A statement from the European Commission said, ‘The Commission has concerns that the companies involved may have engaged in anti-competitive practices in breach of European Union anti-trust rules that prohibit cartels and restrictive business practices and/or abuse of a dominant market position.’
However, the statement also highlighted that the raids ‘do not mean that the companies are guilty of anti-competitive behaviour’.
The unannounced inspections, carried out by the European Commission, were described as a ‘preliminary step’ in a wider investigation.
A statement from the European Commission said, ‘The Commission has concerns that the companies involved may have engaged in anti-competitive practices in breach of European Union anti-trust rules that prohibit cartels and restrictive business practices and/or abuse of a dominant market position.’
However, the statement also highlighted that the raids ‘do not mean that the companies are guilty of anti-competitive behaviour’.
