BREXIT MESSAGE FOR OUR BROKING PARTNERS

Business as usual for Probitas 1492

 

Probitas 1492 will continue to underwrite direct EEA business post 01 January 2019 by utilising Lloyd’s new insurance company ‘Lloyd’s Brussels’ where appropriate. Consequently, you can continue to bring business to your existing Probitas underwriting contacts just as you do now.

Placing business with Probitas will continue to be largely the same. Lloyd’s Brussels will be the insurer, and the business will automatically and simultaneously be 100% reinsured back to Probitas.

From 01 January 2019 Probitas underwriters will use a Lloyd’s Brussels stamp when underwriting direct EEA risks. Non-EEA direct risks will continue to be placed as they are today in the Syndicate.

Global risks will need careful consideration to ensure the EEA part of the risk is separated and identifiable on the slip. We encourage you to work closely with Probitas to ensure all EEA business is appropriately presented to underwriters.

Processing of premium and claims will remain broadly unchanged. You will submit accounts as you do now, with no delays in premium payment or claims settlement. Paying claims is at the core of what we do, and we will maintain our high service standards.

Of course, as a Broker we advise you to check you have the right licences post Brexit to continue to do business within the EEA. You will also need to sign a Lloyd’s Brussels TOBA and Lloyd’s will be contacting you shortly to ensure this agreement is in place.

If you have any Binders or Line Slips which may have EEA risk locations, please contact Probitas for further information about setting these up well in advance of 01 January 2019.

In conclusion, the message is Brexit means business as usual for Probitas.

If you would like further information, please direct your questions to your usual Probitas contact.