OREANDA-NEWS. February 14, 2012. Deputy Head of FAS Russia Andrey Kashevarov and the Head of FAS Department for Control over Financial Markets Olga Sergeeva took part in the Russian Insurance Forum, which was organized by the Adam Smith Institute, reported the press-centre of FAS Russia.

Andrey Kashevarov made a presentation “Changes in the Antimonopoly Law Important for the Insurance Market”. He especially emphasized that notification procedures for control over agreements between financial organizations and between financial organizations and executive bodies of the Russian Federation are now excluded.

Participants showed the most interest towards novelties to the law on competition protection about legitimacy of the agreements prohibited by Parts 1 and 4 Article 11 of the Law. Under a general rule, prohibition of anticompetitive agreements between economic entities is not applicable if one of such economic entities established control over another economic entity, or if such economic entity are under control of a single person.

Andrey Kashevarov explained that “agreements between economic entities exercising types of activities, simultaneous exercising of which by the same economic entity is prohibited, constitute an exception from the general rule. In particular, agreements between a bank and an insurance organization can be pronounced anticompetitive regardless of whether they are directly or indirectly controlled by a single person.”

The Forum was attended by representatives of the government agencies and the leading insurance companies. Forum organizers and participants raised such pressing issues as relations between banks and insurers, reorganization of insurance supervision, enforcement of the antimonopoly law in order to regularize relations between insurance companies, intermediaries, consumers of insurance services and banks.