Concordia Consultancy’s Chairman Paul May “Adjusters should demand Brexit clarity from insurers”
14th February 2018
Loss adjusters working for multi-national insurers in Europe should challenge them on their Brexit preparations, said Paul May, director of the International Association of Adjusting Federations.
May, speaking at the IFAA Educational Conference in London last week, said adjusters were in an ideal position to get certainty for policyholders.
“There are so many uncertainties surrounding the status of cross-border insurance transactions and policies sold and serviced under current EU passporting arrangements that it is essential loss adjusters get absolute clarity from insurers,” he said.
“After the end of March this year we will be less than a year away from the ‘Brexit Day’ that has been put into UK legislation.
“This means that insurers must be planning for a variety of potential outcomes and must be satisfied that they will still be operating legally across EU borders after 29 March 2019, especially when it comes to paying claims. Adjusters are in an ideal position to get certainty for policyholders.” added May, Chairman of Concordia Consultancy.
(Source: Insurance Post)
