- Integro / Tysers has executed the implementation of our Brexit Contingency Plan in the event of a Hard Brexit.
- This plan has been developed in consultation with the Belgian Financial Services and Markets Authority.
- We are establishing a Branch Office of our Belgian subsidiary (Beluga Insurance Solutions (“Beluga”)) in London. Through this Branch operation, we will be able to provide the same high level of professional service to our EEA Clients for renewals and new business after 29 March 2019 in the event of a Hard Brexit.
- We will be sending out new Terms of Business Agreements for Beluga to our Producing Broker Partners in the EEA during March.
- New Client Terms of Business Notices for Beluga will be provided to our Direct Insured/Reinsured Clients as and when their business is renewed by the Branch Office.
- Some existing Integro Client Facing Staff responsible for EEA accounts will be seconded in to the Branch Office and will have second email addresses that will be used to correspond with EEA Customers.
- We will be issuing a more detailed communication later in March in the event that the meaningful vote in the UK Parliament does not provide any certainty about the future of the UK’s ongoing relationship with EEA Member States.
- We currently intend to service most existing policies from London following a Hard Brexit, although this will depend on the regulators in the individual EEA member states and may be subject to change.
- Integro / Tysers recognises that while the risk of a Hard Brexit and the lack of certainty surrounding the future trading relationship between the UK and the EEA is directly impacting all our EEA Customers, our Brexit Contingency Plan aims to continue to support our EEA Clients in these uncertain times.
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