Insurance Industry
We are not your typical broker…
The UK officially left the EU on 1st January 2021 without a deal for Financial Services or any equivalent arrangement to Freedom of Services, which previously provided passporting rights for transacting UK/EU insurance business.
We are already seeing the impact of Brexit on both UK and German commercial insurance programmes, with many insurers insisting that separate policies are issued to an authorised broker in each country (whereas they could previously be covered under one policy in either country). UK and German businesses with operations in the opposite country should review their insurance policies to ensure they remain compliant and respond to claims as expected.
Brexit has increased the need for insurance brokers who have knowledge and experience of providing multinational insurance solutions, for UK and German businesses with overseas operations. Sutton Winson and Dr Hoertkorn have recently joined the German-British Chamber of Industry & Commerce and work together as part of the global UNIBA network, which can provide insurance services not only in the UK and Germany, but anywhere in the world.