IUA Circular 051/18

Brexit Continuity Clause

Date:  22 June 2018

Interest Groups:  IUA member contacts, underwriting interests, legal and regulatory interests

Subject:  Publication of a Brexit Contract Continuity Clause by the IUA, together with an accompanying commentary

IUA ContactChris Jones, Director of Legal and Market Services (020 7617 5447)

Following a referral from IUA’s Brexit Working Group, the IUA Clauses Committee has drafted a policy clause that is designed to manage the insured risk as and when the UK leaves the EU and working on the assumption there will be no equivalent passporting rights for UK insurers. There is also an accompanying commentary explaining the key technical considerations and issues arising in the drafting process.

Both documents are accessible via the above hyperlinks and, as with all IUA clauses, will also be available from our IUA clauses website. As with all IUA clauses, use of it is not mandatory and users need to consider use of it in accordance with their individual circumstances and take advice on it where they deem necessary.

If there are any questions in respect of the clause, guidance or more widely on this issue, please contact me via the details above.