cross-border insurance products News

Update: Messy Brexit Could Lead to ‘Contract Continuity’ Disruption for Insurers, Banks

As far as Brexit headaches go, Barclays Plc’s John McFarlane says that while his bank is on top of job relocations, he’s more concerned about rewriting “hundreds of thousands” of contracts. He’s not alone. Andrew Bailey, head of the U.K. …

JPMorgan Warns of Market Disruption If Clearing Houses Cut-Off by Brexit

Financial markets face Brexit day upheaval if clearing houses in Britain are abruptly cut off from continental customers, a senior JPMorgan bank official said on Wednesday. Sally Dewar, international head of regulatory affairs at the U.S. bank, said that without …

FERMA Calls for Caution on EU Insurance Contract Law Changes

The Federation of European Risk Management Associations (FERMA) has released a bulletin calling for “a cautious approach to any changes to the regulatory treatment of differences between EU national insurance contract laws to avoid jeopardizing the market for large risks …