Following the UK's historic advisory vote to leave the EU,
key questions must be answered before any real change occurs. These
include: Must the government implement the advisory vote, and if
so, how?
Will the UK really leave the EU? Will Scotland and Northern
Ireland (both of which voted to remain in the EU) have their own
referendums to leave the UK—and will they be granted EU
status if they do?
While the answers to these questions will have broad
implications for businesses across industries, this article
addresses insurance companies, many of which are trying to
determine whether to leave the UK or remain until the UK's
plans become clearer. At this early stage, insurance companies,
regardless of their location or the type of coverage they write
(e.g., property and casualty, life, or accident and health), lack
the information needed to make decisions. Regardless, they should
start weighing potential scenarios. We suggest they evaluate
considerations including
