Market access

Key Points

  • Look to clarify whether (in the absence of passporting rights) your regulatory permissions are sufficient to allow:
    – You to arrange insurance coverage in relation to risks located outside the UK (even if the regulated activity takes place in the UK).
    – You to continue to service or sell insurance policies to customers outside the UK (even if the regulated activity takes place in the UK).
    – You (including your employees, agents or appointed representatives) to conduct business outside the UK.
  • If you are an appointed representative of another entity seek to clarify the scope of activities that have been delegated to you and whether you can continue to perform those activities following Brexit.
  • Look to find out whether your insurers have the correct regulatory permissions to be able to accept new contracts of insurance, or to service existing contracts of insurance, in relation to risks located outside the UK and for customers outside the UK. If they do not have the permissions, consider whether alternative arrangements are in place or can be put in place for that risk.
  • If you have broking partners ask whether and to what extent they can continue to arrange business through existing distribution channels.