What we did:
Cover Genius is a global Insurtech company, its platform distributes regulated insurance policies in 60+ countries and 50 US States, in 40 languages. It needed some help to put together a Brexit contingency plan, focusing on its European operations.In particular, Cover Genius needed advice on how Brexit would impact its current operations and regulatory structure, focusing on its existing passporting rights and appointed representative arrangements with one of its leading partners.
What happened:
We’re providing ongoing practical, commercial advice which is allowing Cover Genius to constructively plan and strategise for Brexit.To date, we’ve reviewed its current regulatory structure and use of passporting rights, as well as looking at different regimes to work out which jurisdiction would allow Cover Genius to create a new regulated entity – while still operating like it currently does, leaving room to outsource where necessary.
We’re now working closely with the team at Cover Genius, and lawyers in the Netherlands, to establish Cover Genius Europe and secure authorisation with the Dutch AFM.
Graeme Dean, Head of Insurance at Cover Genius, said:
“Capital Law took the time to understand what we were trying to achieve and then executed on the brief, quickly and efficiently. As with most high growth start ups, speed is always of the essence, so we needed a law firm to respond quickly.”
