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EIOPA Wants 'Mystery Shopper' Investigation Powers

Law360, London (September 13, 2018, 3:37 PM BST) -- Europe’s top insurance regulator has told Law360 that it would welcome new powers to contact insurers undercover as a “mystery shopper,” after European lawmakers demanded an expansion of its investigatory reach.

A spokeswoman for the European Insurance and Occupational Pensions Authority said that some national regulators are already using undercover drop-ins to identify market problems, sometimes through third-party contractors. The European Commission has also deployed mystery shoppers, and EIOPA is ready to do the same, she said Wednesday.

“In view of further strengthening supervisory convergence, EIOPA...
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