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Bank of England "right to emphasise the impending threat to cross-border contracts"

Commenting on today’s Financial Stability Report from the Bank of England, Director General of the Association of British Insurers (ABI), Huw Evans, said:

"Today's report from the Bank of England is right to emphasise the impending threat of insurance companies not being able to service cross-border contracts after Brexit. This is an issue which could impact many millions of policies and other contracts and which needs addressing urgently via a political agreement to allow these policies to run on, to give customers certainty and to prevent financial upheaval. The last thing insurers want is to be left with the impossible choice of breaking a contract with a customer or to risk breaking the law." 

Last updated 28/11/2017