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Insurance may not cover firms with lax Brexit preparations

Prepare for Brexit

U.K.-based Mactavish said that businesses might not be able to make commercial insurance claims for liability-related lawsuits if their Brexit preparations are found to be insufficient, Investment Europe reported. The consulting firm said that investors and suppliers could sue U.K.-based companies for Brexit-related losses and executives may not be covered by director's and officers' cover if they fail to adequately investigate and disclose their risks to insurers.

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