According to the Prime Minister, “Brexit means Brexit”

Brexit Secretary David Davis, has said recently that the Government is on course to meet its end of March deadline to launch the formal divorce procedure from the European Union.

As we delve into the unknown, there is no better time for businesses to be undertaking a risk assessment, reviewing their existing Insurance programmes and developing, identifying and prioritising the risks that may be born as a result.

Insurance is about managing risk and all businesses without exception are exposed to a variety of risks. You can’t escape it. 

Brexit brings with it a wide array of risks that need consideration and we’ve prepared the following illustrative list of questions to assist you in gauging the impact of Brexit on your business.

  • Is there likely to be Employment Law changes and will this affect our workforce?
  • Will any potential change to freedom of movement affect any of our Employees?
  • Do we rely on access to the European Market; will our Profit and Loss be affected as a result?
  • Will Brexit expose our Balance sheet?
  • Future trade agreements are yet to be determined. Will we be affected?
  • Are we vulnerable in our existing operation?
  • Does the volatile exchange rate affect our suppliers and supply chain?
  • Do we use cloud services? If so, does Brexit affect the impending EU Data Directive?

Once identified we can work with you to create solutions which dovetail with your attitude towards risk and the risk tolerance of the business.  We can help you to decide the best strategy in each case.

We are here to guide and assist you to arrive at an insurance programme that suits you. For more information or to discuss your insurance requirements please get in touch or request a callback via the form on this page.

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Risk Management Guide to Brexit LinkedIn