The European Commission (EC) is gunning for big brokers following the launch of a European-wide probe into the competitiveness of insurers and intermediaries.
The EC competition directorate's insurance initiative will look at business insurance products in all 25 member states, beginning by focusing on the
role of intermediaries, property insurance, casualty and liability and reinsurance.
Lesley Ainsworth, partner within the EU and competition practice at Lovells, said: "At best brokers will face intrusion and interference in their business practices and at worst they could end up getting fined under Article 81 if anti-competition practices are found."
The Commission will be able to force companies or trade associations to supply information, documents or statements on competition-related issues.
A spokesman for Marsh, which will find itself in the EC
radar, said: "Marsh is committed to competing fairly in all markets in which it operates and will therefore be cooperating fully with any inquiry."
