01.05.2009 DOJ Antitrust Division Approves Creation of Insurance Consortium
01.05.2009On Nov. 24, the Department of Justice Antitrust Division announced that it had approved the formation of an entity that would permit multiple insurers to jointly insure large commercial property insurance risks on a single policy form. The announcement was made in a Business Review letter response to Ivy Capital Group,* which proposed the creation of the entity, Concepta Services. (Under the Antitrust Division’s Business Review procedure, an entity may submit a proposed business plan and the Division indicates whether it intends to challenge the proposed conduct, if implemented, under the antitrust laws).
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