EU Competition Commissioner Neelie Kroes has agreed to delay the inquiry into the operation of the business insurance market until early next year.
Kroes told a delegation from the all party parliamentary group on insurance and financial services, FUEDI (The European Federation of Loss Adjusting Experts) and Cila, in Brussels last week, that she was sensitive to the problems that the market would have in responding to detailed questionnaires within the original timetable.
Kroes said: "It is the renewal season and we don't want to get in the way of that so we won't be sending out questionnaires until the new year."
She said the Competition Directorate would be "roadtesting" a draft questionnaire with practitioners during December and early January before issuing the final version to firms for completion with a more relaxed timetable.
"We are aware that the surveys cause a lot of work and so are extending deadlines up to ten weeks where necessary".
Once the results are in and have been analysed the Directorate will publish a consultation paper on its proposed actions in the Spring.
Kroes highlighted some of the concerns that prompted the inquiry into business insurance, citing the operation of the reinsurance market, the extent of potentially anti-competitive co-operation within insurance associations and the effects on consumers of market agreements on standard clauses.
John Greenway, chairman of the all party group, said: This will be very good for the London market in particular which wants to co-operate but was very concerned at the original timetable".