Outsourcing in insurance—one minute guide
Produced in partnership with Simon Thomas of Goodwin
Outsourcing in insurance—one minute guide

The following Insurance & Reinsurance practice note produced in partnership with Simon Thomas of Goodwin provides comprehensive and up to date legal information covering:

  • Outsourcing in insurance—one minute guide
  • Outsourcing in insurance
  • Why outsource?
  • Insurance outsourcing—regulatory structure
  • General regulatory requirements applicable to outsourcing by FSMA regulated firms
  • Specific rules and guidance for insurers
  • Implementing outsourcing policies
  • ‘Critical’ and ‘important’ functions
  • Outsourcing—the practicalities
  • Suitability of third party outsourcing service providers
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit—Insurance & Reinsurance—overview.

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance, see Practice Note: Impact of Brexit: Solvency II—quick guide.

This Practice Note provides a high level guide to the key regulatory and practical issues relating to outsourcing in the insurance sector. For more detailed guidance on these issues, see Practice Note: Outsourcing in the insurance sector.

The table of contents on the left-hand side provides a navigation tool for this Practice Note and the related documents pod on the right includes links to a suite of Practice Notes providing comprehensive practical guidance on commercial outsourcing generally.

Outsourcing in insurance

Outsourcing has become increasingly prevalent in the insurance sector in recent

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