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International

Brexit could affect nearly 3,000 UK brokers

March 30, 2017 Reprints

The British Insurance Brokers' Association has said that the business models of nearly 3,000 U.K.-based insurance brokers could be affected due to the lack of a clear agreement on cross-border trade following Brexit, FT Adviser reported. "The U.K.'s number one position in the European insurance sector is under serious threat if we do not have barrier-free and tariff-free access to the European Union market including some form of passporting model and regulatory equivalence," said Steve White, chief executive of BIBA.

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Brexit could affect nearly 3,000 UK brokers

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