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UOKiK Statement: Polish competition authority fines insurer PZU Zycie EU 14 mln for abuse of dominant position

( October 29, 2007, 16:12 GMT | Official Statement) -- ****************************************MLex Summary: The Polish competition authority has fined the country's biggest insurance company 14 million euros for abusing its dominant position on the market for group insurance for employees. PZU Zycie has a 90 percent market share for such products. Following complaints from 10 employers, the authority found that certain clauses in the company's contracts were in breach of national competition law, such as the obligation to obtain employees' agreement in order to change group insurance provider. Furthermore, employers were obliged to pay for three further months once the contract had been cancelled. The decision may be appealed....

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