The director-general of the Association of British Insurers (ABI), Huw Evans, will deliver a speech later today warning the UK government to avoid a cliff-edge in regulation and trading relationships when the UK exits the EU.
Part of the speech, seen by Reuters and the FT, argues that no deal with Europe would be unacceptable.
"To meet our clients' needs as an industry and ensure full compliance with the law, the government has to deliver an orderly withdrawal, a stable transition and a sensible and mutually beneficial future trading relationship," Evans will say this afternoon.
He will go on to outline three key areas where UK insurers need clarity: the status of long-term cross-border contracts; how UK citizens will access healthcare in the EU after 2019; and cross-border motor insurance.
First Minister of Scotland Nicola Sturgeon was due to speak at the conference this morning, but cancelled at the last minute in order to prepare a statement on "the way forward for Scotland" following the UK general election result on 9 June.
Although originally planning to call for a second independence referendum in 2019, she has now reconsidered her position after losing 21 seats in the house of commons.
Companies:ABI