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Europe & EU Exit

Home / Current Issues / Europe & EU Exit

The EU Exit raises a number of issues that could seriously impact insurance brokers and their customers. BIBA is highlighting eight areas that will enable us to effectively service both new and existing UK and EU clients.

BIBA-KPMG Brexit Navigator

In 2017 when we asked members if they had any concerns regarding Brexit, around 66% of respondents said that they did. As a result, the BIBA Brexit Committee has been working closely with leading consultants, KPMG to offer assistance to BIBA members who are considering the implications of Brexit on their business.  Consequently, we have created the BIBA-KPMG Insurance Broker Brexit Navigator. This includes considerations around deciding whether you need to set up EU branches or make arrangements with a local European wholesaler or distribution network to deal with existing European clients.

It also flags potential considerations and shows timescales that may affect these.

As we approach March 2019 we hope that this navigator will help you focus on the Brexit issues and opportunities that most directly affect your business.

Get your Brexit Navigator here.

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Representing our members in Europe

With much of the Financial Conduct Authority’s rule book derived from European secondary legislation, BIBA is a member of the European Federation of Insurance Intermediaries (BIPAR), and is active in representing members’ interests with the three European legislative bodies that create the regulations; the European Commission, the Council of Ministers and the UK representatives in the European Parliament.

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BIBA and Bernadino

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BIBA, Alessandro de Besi, Diana Ispodkina and Anna Kadar

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BIBA meets David Liddington MP Minister for Europe

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David Sparkes at BIPAR

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European Parliament

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Graeme Trudgill, BIPAR committee meeting February 2015

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BIBA, Lord Hill and Alessandro de Besi

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Kay Swinburne MEP

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Steve White and André Lamotte – the BIPAR President

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BIBA and Anna Kadar

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Steve White at BIPAR

BIBA's Call to action and Commitments on Europe

Each year BIBA campaigns on a number of issues and commits to a series of actions - these calls for action and commitments can be found within our manifesto.

Find out more in the BIBA 2018  EU Exit Manifesto

Bespoke Mutual Recognition

– For a new free-trade agreement that allows UK and EU insurance brokers and insurers to continue to trade without any new legal barriers or frictional costs that would render either side unable to competitively or legally fulfil its commitments to UK and EU clients.

– For recognition of prudential regimes that confirm regulatory alignment between the UK and the EU.

– For Gibraltarian capacity to be confirmed legal in the UK before exiting the EU.

Transition Agreement

– For the UK and EU to agree a suitable transition period until a new free-trade agreement is agreed.

– For the EU Parliament and UK Government to agree that any insurance policy that straddles the exit date will remain fully legal until its end date to reassure clients and provide contract certainty.

Motor Insurance – EU Exit

– To maintain a free circulation zone and avoid the reintroduction of onerous green card requirements by maintaining regulatory alignment with the EU Motor Insurance Directive, or in the event of the UK moving away from EU law, becoming a third country under articles 7 and 8 of the Motor Insurance Directive.

– For all parties to work on a practical solution that minimises the impact of the re-establishment of EU/UK border controls on motorists and businesses from both sides.

– For a bilateral driving licence agreement to ensure a seamless transition after EU exit.

Travel Insurance – EU Exit

– To maintain an equivalent reciprocal health agreement system on emergency healthcare between the UK and the EEA.

Brexit Matters

BIBA has created a Brexit Committee to consider the issues affecting brokers as a result of the coming EU exit.

Tell us your views on brexit in our brief survey

A level playing field

BIBA welcomes improved level playing field for customers with conclusion of Insurance Distribution Directive (IDD) political process

After many years of promoting the interests of members and their customers in Brussels, Westminster and working closely with our European Federation BIPAR, BIBA is delighted to see the Insurance Mediation Directive will now become the IDD and include comparison sites and direct insurers.

Read the full press release

Europe Regulation Updates

See all regulation updates

MP Guide

Helping your constituency with insurance matters

BIBA members have many specialisms and can often help in placing cover for those that fall outside of what is considered a ‘standard risk’.

BIBA helps more than a 250,000 consumers Find a Broker every year and can be found at biba.org.uk, or by calling 0370 950 1790.

See our guide for MP’s here

Working together with BIPAR

BIBA is an active member of the European Federation of Insurance Intermediaries (BIPAR), carrying our 'one voice' philosophy to the European stage, where interests of brokers across the region are aligned.

The liaison with fellow trade associations across Europe permits a sharing of experiences which helps us develop stronger arguments on issues affecting our local markets.

bipar-logoFind out more on BIPAR’s website

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Whatever type of insurance you need to find, BIBA can connect you with a broker who can help. Please use the search below or call our Find a Broker Service on 0370 950 1790.

*Members of the Armed Forces have particular insurance needs. BIBA members making a commitment under the Covenant and which help meet these needs can be found here

© BIBA 2018