We use cookies to give you a better experience. If you continue, we’ll assume you are happy for your web browser to receive all cookies from our website. Read our cookie policy.

You are here:  Home News Pulse’s approach to Brexit

Pulse’s approach to Brexit

We appreciate that clients based in continental Europe who have policies with Pulse may be affected by the UK’s withdrawal from the European Union (EU).

Most Pulse policies for European clients are placed with Lloyd's of London, which is based in the UK.  From 29th March 2019 Lloyd’s underwriters may no longer be able to carry on insurance business in the EU and EEA in the same way.  Pulse is working very closely with insurers to prepare for this and in particular what would happen in the event of a “no-deal” scenario.

For non-life business: Lloyd’s has created a new insurance subsidiary based in Brussels to write all non-life risks from EU and EEA countries.  This subsidiary has been operating since 1st January 2019, enabling our partners and policyholders to retain access to the underwriting expertise of the Lloyd’s market.  Pulse will therefore continue to provide cover for personal accident, group travel, income replacement and/or other general insurance risks placed with it by intermediaries in the EU and EEA, however the security will be Lloyd’s Insurance Company SA.  Pulse’s customers should not notice any changes.

We are very happy to look at any new enquiries for EU and EEA Specialty business.

For life business: Pulse will continue to service existing insurance contracts in the EU and EEA up until the expiry of the current policy.  However,  in the event of a "no-deal", Lloyd’s will not be able to write new and renewal term life risks after 29th March 2019; at renewal we hope to be able to offer terms through a new insurer, however, unfortunately this is not certain at this stage.  We are, of course, working hard with our partners to put new options in place for life business going forward.

The position that we are taking on existing in-force policies reflects that of Lloyd’s overall.  Pulse has always understood that under the Insurance Distribution Directive we should continue to be able to do business with European intermediaries who require specialist cover not available in the local market, however, we recognise that there is some uncertainty still on this issue.  Lloyd’s position is as follows:

“In the event that the UK leaves the European Union with no transition or implementation period, Lloyd’s underwriters will continue to honour their contractual commitments including the payment of valid claims.   Lloyd’s expects that this will have the support of all European regulators as it goes to the heart of treating customers fairly. In the event that it does not, Lloyd’s will direct its underwriters, or take such other steps, to ensure that contractual commitments are met in full […]. Lloyd’s approach has the full support of the UK’s Financial Conduct Authority.”

For questions about  cover and for more details generally please contact one of the team on:

Telephone:   01280 841430      E-mail:  admin@pulse-insurance.co.uk