UK insurers face Brexit-related uncertainty
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David Sparkes, an official at the British Insurance Brokers Association, said that memorandums of understandings between the United Kingdom and European Union regulators will not cover insurance contract continuity risks in case of a hard Brexit, Compelo reported. Mr. Sparkes said that U.K.-based insurers could be at the mercy of the governments of each European Union country if they fail to set up a unit within an EU country.
