Brexit and Insurance – the latest
January 18, 2018
Whilst Brexit continues to dominate the headlines, we just wanted to assure you we’re following negotiations closely to make sure we’re ready and able to give you the best advice before we reach 29 March 2019.
For the vast majority of our clients, existing insurance policies will not be affected by Brexit – particularly for those who are currently, and will continue to be, permanently resident in the UK.
For clients who purchased their policy in the UK and are now permanently relocated or may, in the future, permanently relocate to a different country within the European Union / European Economic Area, subject to the outcome of the Brexit negotiations and the approach taken by the EU/EEA regulators, their policies may be impacted. For example, insurance for holiday homes in the EU.
Of course, we do not yet know what the approach of the regulators will be.
With regards to motor insurance – again nothing changes at this point in time. There have been concerns raised in the news over the last couple of days that Green Cards will return for those motorists wishing to take their vehicles abroad – including across the Irish border. This may well be the case IF a “no deal” Brexit occurs – but until the outcome is decided, no action needs to be taken.
We’ll continue to monitor developments carefully and engage with the insurance companies in order that we can continue to provide the advice and service our clients expect.
Whatever the Brexit outcome, we’ll update you with further information and/or actions you may need to take as soon as we can.