Insurance Law360 UK provides breaking news and analysis on the insurance industry. Coverage includes U.K. and European Union regulation, legislation, enforcement, and litigation involving insurance companies, underwriters, reinsurers, and brokers.
Sixty percent of the top 100 U.K. law firms reported an information security breach in the last year, PricewaterhouseCoopers revealed on Monday, leaving a majority of the businesses surveyed concerned about cyberattacks just as the Europe's formidable new data protection regime has raised the stakes for those who are hacked.
The last week has seen Allianz sue Maersk, a Barclays request to transfer part of its banking business and another filing between two sides fighting over payouts from a £200 million RBS rights holders settlement. Here, Law360 looks at those and other new claims in the U.K.
A British haulage company has denied owing more than £160,000 ($208,000) in unpaid premiums to Great Lakes Reinsurance (U.K.) SE and a second insurer, saying it was entitled to cancel its policy after it found a better deal.
European regulators warned on Friday that there can be no more delay on reaching a common set of accounting standards for insurance contracts as they dismissed calls from the industry for the start date for the latest version to be pushed back.
A terminally ill woman who transferred retirement savings into a personal pension plan six weeks before her death is still liable for inheritance tax on the money, under a landmark ruling from the Court of Appeal in London.