Brexit

brexit uncertainty

The Brexit negotiations between the UK government and the EU remain unresolved and uncertain, with the ‘no deal’ outcome remaining the least favoured by both sides. The UK remains in the EU until 31 October 2019 so the current position is unchanged unless alternative arrangements are reached before then.

We are currently trading “normally” in the Republic although certain underwriters previously active in the market have withdrawn their participation and this may lead to renewal terms not being available from the current provider.

The Irish Government has drafted the General Scheme of Miscellaneous Provisions (Withdrawal of the United Kingdom from the European Union on 29 March 2019) Bill 2019 that, if passed, allows us to continue to administer the insurance through to renewal in the event of a ‘no deal Brexit. Should the Bill not be passed and outcome of the Brexit negotiations means that we will no longer be able to provide our services to you, we will transfer your policy to a broker that is able to provide the service. If we are unable to transfer your policy, the policy will be cancelled with at least seven days notice and a pro rata return of premium given.’

 
01 234 2519 Blackfriars Group