BoE warns of threat to cross-border insurance contracts post-Brexit
Millions of people living in the EU and the UK could see their insurance policies become redundant without a political agreement during Brexit negotiations. That is according to a report released today by the Bank of England (BoE), which warns that legislation will be required in both jurisdictions to avoid widespread financial instability. It highlights how there are around six million British customers that buy insurance from EU firms. The central bank said a further 30 mil