Article 29 – Respect of the rules of competition and confidentiality

GAREAT operates in strict compliance with the rules of European and French law concerning competition. In this respect, the Members and other participants in GAREAT’s bodies, committees and various working groups (reinsurers, CCR, guests, etc. hereafter called the “Participants”) undertake that they will not exchange – notably (but not exclusively) during the meetings of GAREAT’s bodies, committees and various working groups – sensitive business information relating to their activities within or outside GAREAT (“Sensitive Information”). They undertake that they will inform their employees and representatives participating in these meetings of this prohibition.

By “Sensitive Information” is meant all non-public information, in any form whatsoever, concerning notably the insurance and reinsurance conditions which the Members and Participants grant to their clients or which are granted to them by any reinsurer, the identity of their clients, the number of contracts and the amount of premiums, and, more generally, any other business information whose disclosure or exchange between competitors might affect the market strategy of the companies concerned.

Access to the Sensitive Information necessary to allow GAREAT to operate smoothly – for example, the Premium Declaration Files, the files containing the declaration of large risks or special risks, and the information necessary for loss handling – is strictly reserved to GAREAT’s teams. The latter are forbidden to disclose, be it directly or indirectly, one Member’s Sensitive Information to another Member or to any other competitor. In contrast, GAREAT’s teams are authorized to disclose to the Members information which they have previously rendered anonymous or have grouped together in such a way that individualization of the Sensitive Information is impossible. In order to ensure that these rules are respected, GAREAT’s teams sign a personal undertaking of confidentiality.