EURO: Premium and claims settlement
The LMA has prepared the attached note highlighting a number of premium and claims payment issues, if there is Euro “fall-out”. The Note does not deal with risks in relation to invested syndicate funds.
There is a high level of uncertainty in respect of the consequences of any Eurozone country leaving the Euro and the mechanism which may be used. This Note contains a number of points to bear in mind where the insured or reinsured is resident in the “exiting” country.
If you have any points to raise or issues you would like to discuss in relation to the Note, please contact Kees van der Klugt, Head of Legal and Compliance.
Download the note on EURO: premium and claims settlement: