Our Brexit Strategy
The UK left the EU on 31 January 2020 and we are now operating in the planned 11-month transition period, during which the UK has ceased to be an EU member but must follow its rules, including the continuation of how insurance laws and regulations are applied.
At the end of the transition period, currently scheduled for 31 December 2020, all UK (re)insurance intermediaries established in the UK, including United Insurance Brokers Limited (UIBL),will lose their automatic rights under EU law to provide services to EU clients, often referred to as “passporting.”
What is the UIB group doing to address this?
UIB has taken steps to ensure that our clients with EU risks continue to be looked after seamlessly, from now until 2021 and beyond, with as little disruption to them as possible.
UIB Nordic AB which, like UIBL, is a member of the UIB group of companies, is registered as an insurance and reinsurance intermediary in Sweden. UIB Nordic AB has previously exercised its passporting rights from Sweden into all other EU member states and has established a branch in the UK, UIB Nordic UK. It is now also a Lloyd’s accredited broker.
Through the involvement of UIB Nordic UK the UIB group will continue to be able to assist new and existing clients with their current and future insurance needs in the EU and the UK. We will make sure that those in the UIBL team whom clients of UIBL are already familiar with will continue to work with them, whether that is through UIBL as now, or through UIB Nordic UK. We will together offer clients the same high standards of service as always, with the same access to the global (re)insurance marketplace.
We will be contacting affected clients individually to provide further details of the revised arrangements for servicing their business. In the meantime we are available at any time to assist with any (re)insurance BREXIT related enquiries.