Some Irish Insurers Unprepared For Brexit, Regulator Warns

Law360, London (September 27, 2019, 1:57 PM BST) -- A number of Irish insurers are not prepared for a no-deal Brexit and could be putting their customers at risk, an Irish central banker said on Friday.

The wider Irish financial system is more ready for a hard Brexit — in which the U.K. leaves the European Union without a trading agreement — the Central Bank of Ireland’s deputy governor for prudential regulation, Ed Sibley, said. But he warned that the insurance industry is falling behind.

“Not all regulated firms are adequately prepared. There is no excuse for this,” Sibley said.

He said that regulated insurers must not let the uncertainty...

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