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Follow on Google News |  What BREXIT Means for Insurers and Brokers Operating in or Planning to Operate in the UK and EuropeBy: iPMI Magazine 
insurance_ With 200 pages of critical insurance business intelligence, this new market research report from leading insurance analyst Ian Youngman looks at what BREXIT means for insurers and brokers operating in or planning to operate in the UK and Europe. For those UK insurers, EU insurers, brokers and agents selling- or planning to sell- into the UK and/or European markets; BREXIT is a legal and logistical nightmare. UK regulators have demanded that every UK insurer now doing business in the EU/EFTA - whether by passport or local subsidiary- and every EU/EFTA insurer doing business in the UK on a passport or full basis -must show them their contingency plan that covers all options including the nuclear one of a UK exit with no deals. Much will depend on what is negotiated -but do not believe the hype from either side. The core rule from the EU is very simple- non-members are not allowed to have deals equal to those that members have, and despite what British politicians may shout- that is non-negotiable. One of the anticipated losses resulting from the UK's exit in 2019 is its exclusion from the single market, namely its exclusion from the free movement of goods, services and workers within the EU. This will impact insurance businesses in the UK that will lose their right of direct access to the single market, and EU insurers will lose their right of direct access to the UK. 40% of UK insurance businesses are studying alternative scenarios involving migrating their European business to other member states. There will be two parallel but not identical sets of laws- in the UK and in the EU/EFTA countries. Any UK insurer or broker doing business in the new EU/EFTA block will be subject to ALL the laws and rules in that region such as on solvency, insurance regulation and competition- In the UK the Bank of England and subsidiary insurance/financial regulators have confirmed that there will be no bonfire of regulations post-Brexit - while other regulators and bodes such as on competition and health and safety have made similar promises. Insurance author Ian Youngman comments; " Wait and see is not an option given the time that it will take to set up a regulated subsidiary within an EU member state or in the UK. If you rely in the main UK media for your Brexit information you could be in for a few surprises. My report is non-political and takes information from across Europe-including primary sources. It is written in a non-technical way so that every insurer and broker can easily understand what is happening and why they must get ready for all possibilities- How To Buy This Mission Critical Report The RRP of this report is £1299, as sold elsewhere. If you are an iPMI Magazine subscriber you qualify for a discount and can purchase a copy for only £1099. iPMI Magazine advertisers benefit even more, with a rock bottom price of just £999, a saving of £300. You will not find these discounted prices elsewhere - iPMI magazine has you covered when it comes to real industry intelligence and market research. Order Now Order your own copy today, visit https://brexitinsurance.report/ We will then send you an invoice for payment via bank transfer and once that has cleared a complete copy of the report will be made available to you in PDF format. BREXIT and INSURANCE Contents Introduction 1 Institutions United Kingdom European Union Background Current members Leaving members Candidate countries Turkey Potential Candidate countries European Neighbourhood Policy European Monetary Union Eurozone European Central Bank European Commission Overview Financial Stability, Financial Services and Capital Markets Union Council of the European Union European Parliament Court of Justice of the European Union European Free Trade Association European Economic Area Switzerland Switzerland and Brexit World Trade Organization European Investment Bank European Agencies Overview European Banking Authority European Medicines Agency 2 Free trade agreements European Union and the USA Free trade deal Insurance deal Internationally active insurers Trade in Services Agreement European Free Trade Association Agreements Bilateral Agreement between Switzerland and EU for non-life insurance 3 EU principles EU free movement Principles Schengen Agreement Single Market Intellectual property Data protection Contracts Mergers and acquisitions Joint ventures 4 EU directives and regulations Regulations, Directives and other acts Regulation Directive Decision Recommendation Opinion Third non-life insurance directive Third life insurance directive Financial Conglomerates Directive Solvency II Insurance Distribution Directive Motor Insurance Directive Motor Insurance Directive Vnuk amendments Winding-up of insurance undertakings Insurance guarantee schemes Insurance of natural and man made disasters Services Directive Competition law General Data Protection Regulation Other changing EU Directives 5 EU/EFTA citizens Introduction UK insurance industry EU/EFTA nationals in the UK EU/EFTA nationals becoming UK permanent residents EU/EFTA nationals living in the UK UK nationals living in EU/EFTA countries UK nationals living in Spain Spain Europea VIEW ALL CONTENTS HERE: https://brexitinsurance.report End
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