International Underwriting Association Issues 2nd Brexit Contract Continuity Clause

Article 0 Comments A second Brexit contract continuity clause has been published by the International Underwriting Association (IUA). The association in June issued a policy clause to help companies manage insurance contracts as the UK leaves the European Union and this has now been followed up with a supporting document […]

EU Dismisses UK Concerns About Post-Brexit Continuity of Insurance Contracts

Article 0 Comments The Bank of England’s warning that Brexit threatens trillions of pounds of financial contracts is falling on deaf ears in Brussels. Valdis Dombrovskis, the European Union’s head of financial-services policy, dismissed an alert issued by BOE Governor Mark Carney, who said the U.K.’s withdrawal from the bloc […]

International Underwriting Association Publishes Brexit Contract Continuity Clause

Article 0 Comments A Brexit clause has been published by the International Underwriting Association (IUA) to help companies manage insurance contracts as the UK leaves the European Union. The Brexit Contract Continuation Clause aims to clarify how firms will continue to pay claims despite any business disruption caused by a […]

XL Catlin Introduces Brexit Continuity Clause to Address Risk of Loss of EU Passporting

Article 0 Comments XL Catlin’s London-based insurance operation has introduced a Brexit contract continuity clause. The clause addresses the risk that contracts written by XL’s London-based entities prior to Brexit may become impermissible if passporting rights are lost as a consequence of the UK leaving the European Union. XL Catlin […]