Each month we will be meeting with lawyers from around the firm
to provide a series of industry perspectives in relation to current
affairs.
This month, we've sat down with Partner
Nigel Feetham QC to discuss, among other things, the insurance
industry in Gibraltar and how it is facing the challenge of
Brexit.
Q: What are the challenges presented by Brexit to the
Gibraltar insurance industry?
A: Brexit has been the key focus of my
professional work over the last 3 years.
As a consequence of the UK's decision, which also includes
Gibraltar, to leave the European Union, a likely scenario in the
event of a
hard Brexit is that Gibraltar and UK insurance companies will
lose their rights under European Union law to continue to do
insurance business across the European single market. These rights
under European Union law are known as "passporting
rights". There have been concerns that following a hard Brexit
UK and Gibraltar insurers will not be able to continue
