EU Insurers Told To Prepare For End Of Brexit Transition

Law360, London (October 13, 2020, 4:15 PM BST) -- European Union insurers were warned by the bloc's industry watchdog on Tuesday to be fully prepared for the U.K.'s exit from the EU's regulatory framework at the end of the year.

The European Insurance and Occupational Pensions Authority said insurers should "finalise preparations and implement suitable and realistic contingency plans" well before Brexit happens on Dec. 31.

The U.K. is currently in a transition period, where it is still bound by EU laws. Unless negotiations can be wrapped up in the next two months, the country will leave the bloc without a trade deal at the end of the year....

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