Venable partner Ashley Craig was quoted in a July 3, 2016 Business Insurance article on the impact of the United Kingdom's vote to leave the European Union on the insurance industry. The vote appears to have to most immediate effect on insurance brokers than insurers with the U.S. market taking a business as usual approach for the time being.
"From the underwriting perspective, there are some E.U. overlaps, but frankly, I don't think the U.S.-U.K. underwriting relationship will be impacted," said Craig. "At least in the near term, nothing's going to change from an underwriting perspective. We're not certain if this Brexit vote will stick or not, so there's a lot left to be determined going forward."