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Spain Competition Watchdog Investigates Insurers

Spain’s National Commission for Markets and Competition (CNMC) has opened an investigation into the country’s insurance sector over alleged coordination on compensation claim coverage and the exchange of client information. The probe focuses on potential collusion that could distort pricing and limit consumer choice. Companies found guilty may face penalties of up to 10% of their annual turnover, a sanction that could significantly affect profitability. The inquiry follows a broader EU push to enforce competition rules in financial services.