Italy watchdog fines UnipolSai, Generali for unfair commercial practices (updated)

UnipolSai Assicurazioni SpA

09/08/2022 13:24

(Adds Generali's comment, details)
    MILAN, Aug 9 (Reuters) - Italy's competition authority AGCM
fined Generali  GASI.MI  and UnipolSai  US.MI , the country's
two top insurance groups, five million euros ($5.1 million) each
for allegedly carrying out unfair commercial practices, the
authority said on Tuesday.
    According to the watchdog, the two companies behaved in a
way that considerably restricted the consumer's freedom of
choice with regards to compensation for motor insurance claims.
    Generali, Italy's largest insurer, said in a statement it
deemed the watchdog's charges "unfounded" and wanted to appeal
the decision.
    "Generali Italia always guarantees the widest care and
protection for clients and third parties who were damaged...
paying the utmost attention to compliance with regulations at
every stage of the claims settlement process," it said in a
statement.
    UnipolSai was not immediately available for comment.
    

($1 = 0.9799 euros)

 (Reporting by Claudia Cristoferi and Andrea Mandalà, editing
Federico Maccioni, Kirsten Donovan)
 ((Claudia.Cristoferi@thomsonreuters.com; +39 3480848422;))