European regulator says insurers must prepare for Brexit risks

Brexit and the City

The European Institutional and Occupational Pensions Authority has said that national supervisors must be ready to deal with the possible consequences of Brexit.

National supervisory agencies should also ensure that insurance firms explain the risks of Brexit to their customers, Eiopa said in a statement issued on June 28. “To reduce uncertainty and to ensure consumer protection, swift actions are required from both the industry and national supervisors,” Eiopa chairman Gabriel Bernardino said.

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