EU insurance regulator calls on insurers to be prepared for hard Brexit

Gabriel Bernardino, chairman of the European Union's insurance regulator, said that European insurers must take speedy steps to ensure policies are not disrupted if Britain leaves the EU without a trade deal in March 2019, Reuters reported. Mr. Bernardino said that the contingency plans of the insurers should be realistic and consider all eventualities over their future relations. Preparation could include transferring contracts from Britain to EU hubs, the regulator said.

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