Regulator Busts IIZI Group for Manipulating Insurance Rates ({{commentsTotal}})


The Financial Supervision Authority issued an injunction to Insurance Broker Services, owned by IIIZI Group, for illegally influencing rates offered by insurance companies.

The regulator said on its website today that the company has sold insurance companies information on their competitors' rates, so that purchasers of the information know how much they can raise their own prices by. Insurance Broker Services called it a "market positioning service."

Many insurance companies were offered the information and a few purchased it as well.

The Financial Supervision Authority ordered that the broker terminate the activity, stressing that insurance brokers should serve the interests of customers, not providers.

IIZI Group is the nation's largest insurance broker, with an 18 percent share of the market.

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.

Ermamaa: The fine art of passing the buck

Admit nothing, blame everyone: those most closely involved in the Ermamaa case don’t need arguments, writes ERR News editor Dario Cavegn.