IUA comment of signing of EU-US covered agreement

Following the signing of an EU-US insurance and reinsurance bilateral agreement Dave Matcham, chief executive of the International Underwriting Association, said:

“The EU-US covered agreement offers a number of business advantages to both sides and I am pleased to see its signing today after several months of review and many years of formulation. I am looking forward now to a speedy implementation of the deal which sets an important standard for greater mutual recognition between regulatory authorities. I hope it will prove to be an example that others are able to follow creating a fairer and more efficient global insurance industry.”