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October 20, 2004

Italy bars insurers from using shared market data

Italy's antitrust authority said on Tuesday it had found that several insurers had threatened life insurance competition by relying on the same firm for market data and ordered them to stop doing so.

A nearly year-long investigation found that the information on an industry database regarding distribution channels, sales conditions, costs to clients and other information was used by the insurers themselves but was not made available to consumers, the authority said in a statement.

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Posted by Tom Troceen