BoE warns high court of insurance Brexit fallout
UK central bank expects number of insurers filing court claims to be three to five times the “normal level” following Brexit
The Bank of England alerted the UK’s High Court to potential disruptions Brexit would bring to the insurance sector earlier this year, minutes from the latest meeting of its Financial Policy Committee have revealed.
A number of insurance policyholders could lose the permission required to collect premiums and pay out on claims on outstanding cross-border insurance contracts following Brexit, the BoE explains in minutes published today (December 5).
While the Prudential Regulation Authority and
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