Brexit, offshore products and FSCS protection

While the UK remains in the EU, the UK based clients of life insurers based in other EU countries and which are authorised to operate in the UK (for example, offshore bond providers) benefit from the same FSCS protection as customers of UK based life insurers. Once the UK leaves the EU this protection may no longer be available.

Where you have clients with investment or insurance products issued from outside the UK but within the European Economic Area* you will need to identify whether there are any changes to consumer protection arrangements (in the event of the provider becoming insolvent) as a result of Brexit.

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