Much has been written about the impact of Brexit on UK insurers but Insurance Day and members of Global Insurance Law Connect consider an alternative view: how will Brexit affect insurers and insureds in other countries across Europe?
BLM’s head of policy and government affairs, Alistair Kinley provides his view on the UK position. Alistair joins experts from Belgium, France, Germany, Italy, Norway, Spain and Switzerland to create a summary of how things stand across a range of major re/insurance markets.
Alistair said: “The government has issued dozens of technical notices setting out possible impacts in the event of a no-deal Brexit. The notice covering banking, insurance and other financial services states: ‘For UK-based customers accessing domestic services in the UK provided entirely by UK-based providers, there is unlikely to be any change as a result of exit.’ This statement is accurate and very likely to apply to a wide range of personal lines and small to medium-sized enterprise policies issued by UK insurance providers… However, in respect of other insurance business (most likely to be commercial risks) that has any connection with the EU… different steps need to be taken…”
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