Skopje, 5 March 2025 (MIA) - A procedure has been launched against 10 insurance companies under the suspicion of colluding at the expense of the citizens and the economy, said the Commission for Protection of Competition on Wednesday.

"In April 2024, the ten insurance companies aligned among themselves and collaborated at the relevant market, aimed at disrupting the competition, by increasing the price of the overhead expenses that are part of the mandatory insurance premium for motor vehicle owners, said the Commission.

The Commission carried out inspections in the premises of the insurance companies, including their communication that proved the existence of collusion when deciding on the increase of the vehicle insurance price.

The insurance companies are set to be fined if the Commission procedure confirms the suspicions.

MIA file photo