1. Will you still offer quotations for UK clients with EEA exposures in the event of a No Deal Brexit?
Yes. However, EEA exposures would need to be underwritten by Zurich Insurance PLC EEA in the future if there’s no deal.
2. If I have a client with an EEA exposure that needs cover, do I continue to call my normal Zurich Private Clients contact in the event of a No Deal Brexit?
3. Will the cover for the EEA exposure be different than that offered now?
The cover provided under a policy won’t change as result of Brexit. Any insured interests located in EU and European Economic Area (EEA) countries which are covered under policies issued prior to Brexit, and which were covered by the Financial Services Compensation Scheme (FSCS), will continue to be covered by FSCS until renewal. On renewal, we expect those policies will no longer be covered by FSCS. We also expect that policies covering EEA risks which are issued post Brexit will not be covered by FSCS.
4. Will Brexit increase the cost of insuring interests located in the EEA?
No. However, it is standard practice to continue to review the costs in response to claims trends and risk analysis which typically change over time.
5. Can a single policy cover both UK and EEA risks?
No. Policies covering EEA risks will be issued by Zurich in the EEA, whilst Zurich UK will issue policies in respect of UK risks.
6. Can I set up a single direct debit to cover my UK and EEA risks?