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The UK left the EU on 1st January 2021. Whilst a deal was struck, it didn't include Financial Services and as result, there are implications to both personal and business insurances…
Business Insurance for European operations
A number of our customers will have global policies which include their European operations. Up until the 1st January 2021, it was possible to issue these types of policies on an E.U Freedom of Services basis. Now the UK has left the EU, a separate European policy may now have to be issued and local representation might be required. If this applies to you then your usual Sutton Winson team will contact you.
If you're considering expanding your European presence as a result of Brexit, you may need to review your insurance cover to make sure you remain adequately insured. Please contact your usual Sutton Winson team if you need to discuss any changes to your business.
Motor insurance – driving abroad
UK drivers can no longer drive freely in Europe. As of 1st January 2021 if you are travelling within any EU country, Norway, Iceland, Switzerland, Serbia, Andorra or Liechtenstein you will need a Green Card from your insurer.
The Green Card is a multi-language translation of your insurance certificate set out in an internationally recognisable format. They no longer have to be printed on green paper but must have a minimum of 15 days of cover on it when you enter the above countries.
If you need a Green Card, please contact your Sutton Winson team at least 21 days before your trip (where possible). Alternatively, please call 0330 008 5555 or complete our contact form.
European Health Insurance Cards (commonly referred to as EHIC) will remain valid after the 1st January 2021 until they expire. EHICs will be replaced by a Global Health Insurance Card (GHIC). However, it's still very important for you to have comprehensive travel insurance in place to ensure you are adequately protected when travelling in Europe.
Private homes overseas
If you're a UK domiciled resident with an overseas home you'll not be affected by buying insurance through a UK insurer. However, if you do acquire overseas residency, the situation could be different and we would ask to contact your usual Sutton Winson team.
Life and Private Medical Insurance
Having spoken with key insurers, claims payments in Europe remain unchanged following Brexit. If there are any future changes that directly affect you then your usual Sutton Winson team will contact you.
The rules for trading, driving and travelling in the EU have changed as of 1st January 2021. We recommend you regularly check the gov.uk website to ensure you're aware of any changes that affect you personally or your business.