Insurance UK

  • January 25, 2024

    MPs Quiz Treasury On Pension Superfund Legislation

    The government has been urged to clarify the scope of new legislation likely to be introduced for pension superfunds amid widespread confusion in the sector over regulatory expectations. 

  • January 24, 2024

    Apartment, Insurers Settle Stalled Construction Coverage Row

    A Tampa, Florida, apartment complex owner and its insurers settled their dispute in federal court over coverage for delayed construction after mediation, they said Wednesday in a joint settlement notice.

  • January 24, 2024

    Consumer-Facing Tech Needs Even Approach, FCA Chief Says

    Emerging technologies have the potential to deliver improved and tailored products and prices for consumers, but must be handled carefully to prevent financial exclusion and monopolies at Big Tech companies, the Financial Conduct Authority chief said Wednesday.

  • January 24, 2024

    Criticism Of 'Surprising' Gov't One-Pot Pension Proposal Grows

    More pension and insurance companies on Wednesday joined the chorus of voices calling for the government to refocus efforts away from its new lifetime pension provider model, saying focusing on the plan jeopardizes other more necessary retirement savings changes.

  • January 24, 2024

    Billion-Dollar Disasters Hit Record High In 2023, Aon Says

    The number of global natural disasters that caused economic losses of at least $1 billion each reached a record high of 66 in 2023 as the year witnessed some of the deadliest catastrophes since 2010, a reinsurance broker has reported.

  • January 24, 2024

    Swiss Finance Watchdog Names ECB Exec Walter As New CEO

    Switzerland's financial watchdog said Wednesday that it has appointed a director general of the European Central Bank as its new chief executive after his predecessor stepped down amid the stress caused by the near-collapse of Credit Suisse.

  • January 24, 2024

    Ex-KWM Italy Chief Davide Proverbio Joins Eversheds In Milan

    The former managing partner of King & Wood Mallesons in Italy has joined the Milan office of Eversheds Sutherland, the latest in a series of moves after the two law firms reached a formal cooperation agreement last year.

  • January 23, 2024

    Injured Tourist Says Irwin Mitchell Wrongly Told Her To 'Relax'

    A woman who called an Irwin Mitchell helpline following a life-changing accident abroad told the Court of Appeal Tuesday that the law firm breached a duty of care by failing to advise her to alert a tour operator to her claim.

  • January 23, 2024

    Gov't Collects £2.1B From Insurance Premium Tax

    The U.K. government collected £2.1 billion ($2.7 billion) in insurance premium tax in the last quarter, HM Revenue & Customs said Tuesday, as customers continue to feel the effects of rising insurance costs.

  • January 23, 2024

    Gov't Warned Lifetime Pension Proposal Is 'Major Distraction'

    Government plans to introduce a lifetime pension provider model represent a "major distraction" from more urgent retirement savings reforms, a consultancy has said, echoing wider concerns in the sector over the proposed shake-up.

  • January 23, 2024

    UK Biz Registry Rules Tighten Against Economic Crime

    Britain's business registry said Tuesday it aims to introduce tougher reporting rules for businesses as part of the fight against economic crime such as fraud and money laundering.

  • January 23, 2024

    UK Watchdog Floats Rules On Solvent Exit For Insurers

    The Bank of England set out new requirements Tuesday for insurers to draw up plans to exit the market without going bust.  

  • January 23, 2024

    Businesses Chase Liberty Mutual For COVID Relief

    A pub landlord and seven other business owners have claimed that Liberty Mutual Insurance wrongly refused to cover them for disruption caused by the COVID-19 pandemic to their businesses.

  • January 22, 2024

    Kennedys Lands In Fort Lauderdale With 10th US Office

    Global insurance law giant Kennedys announced Monday the opening of its 10th office in the U.S. with the creation of a four-attorney outpost in Fort Lauderdale, Florida.

  • January 22, 2024

    MoFo Adds Sanctions Expert From Deutsche Bank As Partner

    Morrison Foerster LLP has hired an expert in sanctions compliance as a partner to its national security group in London as the firm looks to bolster its practice during a period of geopolitical turmoil.

  • January 22, 2024

    Broker Predicts UK Pension Deal Market Will Hit £80B In 2024

    The U.K. is likely to see £80 billion ($102 billion) in deals involving pension schemes offloading their liabilities to insurers in 2024, a broker predicted on Monday, saying improved retirement savings funding may make it another record year.

  • January 22, 2024

    UK Insurers Covered €120B Of Russian Oil At Sea, Report Says

    The U.K. insurance sector provides cover to around a third of Russian oil shipments, according to a think tank report, in spite of sanctions introduced following the invasion of Ukraine nearly two years ago.

  • January 22, 2024

    Accounting Watchdog Revises Rules In Bid To Boost Growth

    Britain's accounting regulator confirmed changes to the U.K. Corporate Governance Code on Monday that it said will help promote economic growth after it watered down its original proposals.

  • January 22, 2024

    Judge Tosses Civil Servants' 'Vexatious' Age Bias Claim

    Twenty civil servants backed by their union have failed to resuscitate claims that provisions in their pension scheme were age discriminatory, after a tribunal ruled that it was vexatious to pursue litigation as another panel had already settled the issue.

  • January 19, 2024

    BoE, FCA Brought Into MPs' Probe Of Fujitsu Gov't Contracts

    A parliamentary committee said Friday it is seeking details on contracts between Fujitsu and 21 government agencies, including the Bank of England and financial regulators, after the company's faulty Horizon accounting system was found to be behind the Post Office IT scandal.

  • January 19, 2024

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen a bankrupt English local council bring a construction claim against property maintenance company Axis, a Cypriot cheese trade protection body appeal a UK IPO decision granting trademark registration for "Grilloumi" and employees of supermarket giant Morrison’s shop around for compensation in a claim over equal pay. Here, Law360 looks at these and other new claims in the U.K.

  • January 19, 2024

    EU Watchdog Proposes Stablecoin Guidance For Crypto Rules

    Europe's banking regulator on Friday proposed guidelines to combat fraud, cyber and compliance risks where firms issue stablecoins pegged to several currencies or else commodities, under new blocwide crypto-assets market rules.

  • January 19, 2024

    FCA Able To Insist On Office Work In Manager's Claim

    The Financial Conduct Authority has beaten a manager's bid to continue working full-time remotely, as the Employment Tribunal ruled that the regulator "clearly established" that her performance would suffer — even though she had been doing so successfully for more than two years.

  • January 19, 2024

    Pension Surplus Rules Could Bring Change For Deals Market

    The pensions deal market could be reshaped this year by changes to how companies are able to use surpluses from their savings plans, consultancy Mercer Ltd. has said.

  • January 19, 2024

    Gov't Urged To Rethink 'Pot For Life' Pension Reforms

    The government has been urged to reconsider its plan to introduce a retirement savings "pot for life" for workers, as finance experts said on Friday the reforms are the wrong measures introduced at the wrong time.

Expert Analysis

  • Preparation Is Key To Businesses Minimizing Cyber Breaches

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    A recently published report by the U.K. Department for Digital, Culture, Media and Sport on organizational experiences of cybersecurity breaches highlights the importance of having breach response policies in place and being able to demonstrate that reasonable preventive and risk management steps were taken, says Lawson Caisley at White & Case.

  • UK Policyholders Can Expect Better COVID Claims Handling

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    The U.K. Financial Conduct Authority recently outlined some best practices for COVID-19 business interruption claims handling, which, along with recent High Court of Justice decisions, will likely lead to faster claims handling and clearer insurer communication, say Gurpreet Sanghera and Charlie Edwards at Simkins.

  • A Recovery Option For Lenders With Planes Stuck In Russia

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    For aircraft lessors considering insurance coverage litigation to recover for losses of equipment leased to Russian airlines, negotiating an assignment of rights may provide a faster pathway to recovery, say David Klein and Jose Lua-Valencia at Pillsbury.

  • Series

    My Favorite Law Prof: How I Learned To Argue Open-Mindedly

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    Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.

  • 4 Key Skills For An Effective Attorney Coaching Conversation

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    As BigLaw firms are increasingly offering internal coaching as one of many talent strategies to stem ongoing lawyer attrition, Stacey Schwartz at Katten discusses how coaches can help attorneys achieve their goals.

  • New Clarity On Directors' Creditor Duty In Insolvency Context

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    The recent case of BTI 2014 v. Sequana, the first to consider the creditor duty at U.K. Supreme Court level, provides directors and insolvency practitioners with significant guidance on how close to insolvency the company needs to be for the creditor duty to be engaged, say attorneys at Shearman.

  • FCA Pension Scheme Case Highlights Issues Ripe For Reform

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    The Financial Conduct Authority's response to the British Steel Pension Scheme case exposed wider issues within its regulatory approach and could demonstrate the need for industrywide reforms to minimize the risks with transferring out of a pension scheme, say Oliver Reece and Larisa Gordan at PwC.

  • What An Organization Can Do To Protect Its Supply Chains

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    In light of recent world events, supply chain issues have never been more critical for business, and to protect the commercial viability of their contracts, organizations should address performance concerns in good time, with a workable strategy in place should the chain break down, says Laura Heeley at Eversheds Sutherland.

  • German Draft Bill Reflects Trend Toward New Antitrust Tools

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    A recently proposed amendment to the German Act against Restraints on Competition continues the trend in Europe to equip authorities with greater powers, shifting from a more traditional approach to a more extensive market protection tool, say attorneys at Gibson Dunn.

  • How Counsel Can Effectively Lead Data Breach Investigations

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    More businesses are expecting in-house counsel to lead cybersecurity incident responses, so lawyers should work on asking external responders the right questions, managing ransom negotiations to gain time and information, and communicating with regulators to avert or limit penalties, say Oliver Price and Kevin Hughes at FTI Consulting.

  • What EU Oil Spill Insurance Ruling Means For UK Arbitration

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    A recent European Court of Justice opinion in an insurance dispute related to the 2002 sinking of oil tanker MV Prestige provides clarity on the priority of cross-border judgments and arbitral awards, and indicates that EU member state civil judgments will be given precedence over U.K. arbitral awards — with exceptions, says David Vaughan at Collyer Bristow.

  • UK Claim Limitation Ruling Is A Tentative Win For Insurers

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    A U.K. county court's recent decision in Rashid v. Direct Savings reduces the limitation period for third parties to make direct claims against insurers, potentially providing insurers with a defense that was not previously apparent, if the decision is upheld on appeal, says Robert Morris at RPC.

  • Why Risk-Based Employee Conduct Policies Are Advisable

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    In establishing employee conduct policies, companies should consider the extent to which they are exposed to certain types of risk, such as bribery and corruption, as establishing clear written standards offers a step toward avoiding criminal liability, says Steve Melrose at Bellevue Law.

  • A Trusted Cybersecurity Framework Is Imperative For Lawyers

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    The recent increased risk of cyberattacks has a number of profound implications for law firms, and complying with government guidance by embedding a cyber-savvy culture and adhering to a security framework will enable lawyers to add extra layers of defense and present their clients with higher levels of protection, says Marion Stewart at Red Helix.

  • The New EU Data Act Proposal Raises Several Questions

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    In its aim to improve users' rights to access industrial data, the proposed Data Act demonstrates the European Commission’s awareness of the competitive advantage this can bring, but there are concerns as to how it would work in practice, and it appears unlikely that the U.K. will follow a similar framework, say Nick Phillips and Selina Clifford at Edwin Coe.

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