France: fair competition?
Reinsurer SCOR is looking to re-establish fair competition in the reinsurance of natural catastrophes in France by challenging a 1982 French law that permits Caisse Centrale de Réassurance (CCR) to provide natural disaster reinsurance cover in France with an exclusive full state guarantee. SCOR considers the State's exclusive backing to CCR provides it with an effective monopoly over natural disaster reinsurance cover in France. At the end of September 2013, SCOR lost a challenge to the French Constitutional Council, who determined that the law was constitutional. It continues to pursue its challenge before the Paris Commercial Court and it is also now taking its challenge to the European Courts in respect of alleged violations of European competition laws.
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