The UK Vote to Leave the EU – What Happens Next?
In the referendum held on 23 June 2016, the United Kingdom (UK) voted to leave the European Union (EU).
Now that the referendum is over, companies will need to consider the impact the exit will have on risk and insurance issues. While the UK’s relationship with the EU will undoubtedly change, the exact implications of the UK’s decision to leave the EU are far from certain at this point.
However, there are some key areas companies should be considering in their contingency plans, including:
- Market volatility.
- Material change in risk.
- People issues.
- Passporting issues.
- Changes in the legal and regulatory environment.
Companies should keep a close eye on developments during this period and have a plan in place to address various outcomes of future negotiations.