UK – EU in legislation to remain
Friday, 05 20 2016, Category: Insurance and Reinsurance, Country: United Kingdom
An insurance adviser has said that most of the EU legislation that affects the insurance industry is likely “here to stay” whether the UK leaves the European Union or not in the referendum taking place next month.
Charles Portsmouth, director at insurance adviser Moore Stephens, said: “The UK as a whole and the insurance industry in particular are likely to want to retain access to EU market with a new trade deal.
“The UK insurance sector owes its world-leading status partly to its strength on the European stage and a major part of the UK industry’s revenues comes from Europe. To preserve these lucrative ties and be able to sell cross-border, UK-based insurers are likely to find they still have to comply with EU regulation.
Source: Intelligent Insurer