Following the latest updates from the FCA, IGI can make the following statement with regard to our overall Brexit position:
- On 31 January 2020 the UK withdrew from the EU and has entered a transition period during which the UK will negotiate its future relationship with the EU.
- The implementation period is currently due to operate until 31 December 2020.
- During the implementation period, EU law will continue to apply in the UK.
- Passporting rights continue, as do consumer rights and protections derived from EU law.
- IGI is in the process of setting up an EU insurance operation and therefore can continue to underwrite EU business during the current transitional period.
- New EU legislation that takes effect before the end of the implementation period will also apply to the UK.
- In the unlikely event that IGI does not establish an EU operation during the transition period IGI will continue to honour all contractual commitments including the payment of valid claims (in accordance with our commitment to treating customers fairly).
- For any further information please do not hesitate to contact your usual underwriting team contacts or alternatively you can email firstname.lastname@example.org