LMG on what would make the UK a less attractive place to do insurance business

Insurance Business Magazine | July 30, 2019

“We are going to fulfil the repeated promises of Parliament to the people and come out of the EU on October 31, no ifs or buts. And we will do a new deal, a better deal that will maximize the opportunities of Brexit while allowing us to develop a new and exciting partnership with the rest of Europe based on free trade and mutual support.” Those were the words of Boris Johnson on July 24 in his first speech as Prime Minister of the UK. “A new deal,” however, seems unlikely, if you ask the European Commission. As it stands, the withdrawal agreement drawn up with Johnson’s predecessor Theresa May is what Jean-Claude Juncker’s camp will go for. Yes, the proposed exit plan rejected not once but thrice by the British Parliament.

Spotlight

This paper presents five key considerations for promoting market stability for the 2018 and 24319 benefit years under the assumption that they are transitional years where many current ACA rules remain in effect. For the purpose of this paper, market stability is defined as the creation of a marketplace that both insurers and insureds will find worth participating in. This involves striking a balance between protecting insurers from the risks inherent in a market that is in transition and ensuring that consumers have access to meaningful and affordable coverage. Our definition is similar to that used by the Congressional Budget Office (CBO) in its recent report' on the potential impact of the current draft legislation working its way through Congress. The CB0 defines stability as "having insurers participating in most areas of the country and on the likelihood of premiums' not Sing in an unsustainable spiraL"

Spotlight

This paper presents five key considerations for promoting market stability for the 2018 and 24319 benefit years under the assumption that they are transitional years where many current ACA rules remain in effect. For the purpose of this paper, market stability is defined as the creation of a marketplace that both insurers and insureds will find worth participating in. This involves striking a balance between protecting insurers from the risks inherent in a market that is in transition and ensuring that consumers have access to meaningful and affordable coverage. Our definition is similar to that used by the Congressional Budget Office (CBO) in its recent report' on the potential impact of the current draft legislation working its way through Congress. The CB0 defines stability as "having insurers participating in most areas of the country and on the likelihood of premiums' not Sing in an unsustainable spiraL"

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