On Nov. 24, the Department of Justice Antitrust Division announced that it had approved the formation of an entity that would permit multiple insurers to jointly insure large commercial property insurance risks on a single policy form. The announcement was made in a Business Review letter response to Ivy Capital Group,* which proposed the creation of the entity, Concepta Services. (Under the Antitrust Division’s Business Review procedure, an entity may submit a proposed business plan and the Division indicates whether it intends to challenge the proposed conduct, if implemented, under the antitrust laws).
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