Insurance in the EEA

Not so much of a problem for the multi-million pound companies – but very much an issue for those businesses in the real world who have (or would like to establish) a subsidiary within the European Economic Area: and businesses within the EEA looking to insure a subsidiary in the UK.

Pre-Brexit BGi.uk had a developing book of business in the EEA territories (the EU and a couple of extras!), and Post-Brexit we elected to retain and develop that business. Since then, we have jumped through all manner of hoops, paid fees, registered with various authorities – and placed insurance!

Some of our team are registered as Secondees (destacadas and destacados). This enables us to provide an insurance service within the EEA.

Working with Hispania RB has enabled us to place insurance with local insurers and sometimes back into the London market.

The larger risks we have placed include:

• Cargo Risks including storage
• Freight Liability Risks
• Medical Malpractice – Clinical Trials
• Ethanol Production
• Professional Indemnity

GWP to-date (30 months) is now in excess of €2,500,000.

We are in the process of establishing a network of Brokers across the EEA who will be able to assist with the placement and servicing of local business: typically, EEA based subsidiaries of UK firms. The main purpose of this is to provide an economical solution to the requirement for small EEA businesses who, understandably, do not want to spend exorbitant sums on insurance.