Insurance UK

FCA's Tokenization Plan May Heighten Financial Crime Risk

The Financial Conduct Authority's planned tokenization regime to help asset managers trade investment funds as digital assets could expose investors to financial criminals lurking in crypto-markets, with the regulator's "targeted support" rules multiplying the risk, lawyers have warned.

Surface of polluted water reflecting sunlight with a leaf.

'Forever Chemicals' Pollution Claims Seeping Into UK Courts

Litigation over widely used "forever chemicals" that has led to big payouts in the U.S. could become a source of significant exposure for insurers and their policyholders in the U.K. following a recent settlement.

View of the wheels of a row of cars lined up.

Senior Managers At Risk In FCA's £8B Motor Finance Plan

The Financial Conduct Authority's proposed £8.2 billion ($11 billion) car finance redress scheme would force senior managers of lenders to put their heads on the block by attesting that they have adequate systems to identify customers for compensation, with wrong decisions risking enforcement action by the regulator, lawyers have warned.

FCA's Crypto Rules Risk Abuse Without Tailored Safeguards

The proposed U.K. crypto-asset regime risks abuse because it tries to clamp traditional finance rules on to a digital asset class, leaving gaps which expose unwary investors to criminals unless new safeguards are added, legal experts have warned.

October 31, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen two regional law firms clash at the intellectual property court over the name Amicus Solicitors, Bill's Restaurant face a breach of contract suit by its former executive chair, and a Capita subsidiary sue the Metropolitan Police over a multimillion-pound procurement dispute.
October 31, 2025
EU Banking Watchdog Lays Down Unified AML Rules

The European Union's banking watchdog has laid out proposals for the bloc's new anti-money laundering framework, highlighting that member states' significantly varying quality and scope of approaches to the issue have hampered its regulation.
October 31, 2025
Lawmakers Ask Gov't To Measure FCA Support For Growth

A committee of the House of Lords urged HM Treasury on Friday to set measures for how effectively Britain's financial regulators support the government's economic strategy for growth.
October 31, 2025
FCA Warns Wealth Managers On Risk In Advice Consolidation

The Financial Conduct Authority said Friday it has found that some companies are relying on risky borrowing when they acquire financial advisers and have unresolved conflicts of interest, alongside other failings that could harm consumers.
October 31, 2025
UK Insurance Market Stabilizes As Switching Declines

Insurers should radically change their strategy if they want to stay competitive in the U.K. market as growth through customer churn declines rapidly, a new study from a market researcher has warned.
October 31, 2025
Nippon Life Completes $8.2B Acquisition Of Bermuda Insurer

Japanese insurer Nippon Life said Friday that it has completed its purchase of the remaining 77% stake in Bermuda-based Resolution Life for $8.2 billion, consolidating its interest in the business.
October 30, 2025
Gov't Launches Plan To Boost Pension Credit Uptake

The government launched a drive to boost take-up of pension credit available to people of state pension age with low incomes on Thursday as it seeks to narrow regional disparities in claims.
October 30, 2025
EU Eases Capital Rules For Banks, Insurers To Help Growth

The executive body of the European Union has eased some capital rules for institutional investors to help them invest more in the economy and boost bloc-wide growth.
October 30, 2025
Reinsurers Say Bank Filed Russian Jet Engine Claim Too Late

A group of reinsurers has denied owing Bank of Utah $9.5 million over a jet engine allegedly stuck in Russia since the country's invasion of Ukraine, saying the claim is time-barred under Russian law.
October 30, 2025
Ombudsman Complaints Down But Insurance Cases Rise

The number of insurance complaints has increased by 14% over the past quarter, the U.K.'s financial arbitration body said, even as overall complaints across all sectors declined.
October 30, 2025
FCA Investigating 76 Cases Of Non-Financial Misconduct

The Financial Conduct Authority is currently investigating 76 cases of bullying, harassment or discrimination in the financial sector, a senior executive has told a parliamentary committee.
October 30, 2025
Wachtell, Debevoise Help AIG Buy $2.1B Stake In Insurer

Insurance heavyweight AIG, led by Wachtell and Debevoise, said Thursday that it will buy a minority stake in Weil-guided underwriter and insurer Convex Group Ltd. for $2.1 billion.
October 29, 2025
Zurich Launches 'Moonshot Factory' AI Insurance Lab

Insurance giant Zurich on Wednesday said it has launched an artificial intelligence lab to "revolutionize" its business model and develop what it called the next generation of insurance solutions.
October 29, 2025
UK Launches Review Of Controversial 'Whiplash' Reforms

The government said Wednesday that it has launched a review of its 2021 reform program for "whiplash" personal injury claims, amid industry concerns over delays to compensation and the failure of insurers to pass on savings to policyholders.
October 29, 2025
Firms That Overstate AI Capabilities Face Risks, Insurer Warns

Companies that over-hype the impact of new artificial intelligence technologies on their business could face potential shareholder or regulatory action down the road, an insurer warned.
October 29, 2025
Allianz Calls For Unified Data Framework For Self-Driving Cars

Government agencies and insurers should work together on areas such as swapping information about automated vehicles, Allianz UK said, adding that prompt access to data will be needed if there are accidents involving such cars.
October 29, 2025
Aviva Says Colleges' £62M COVID Losses Fall Outside Policy

Aviva Insurance has denied it is wrongfully refusing to pay out over losses of more than £62 million ($82 million) allegedly suffered by a group of University of Oxford colleges during the COVID-19 pandemic, claiming the disruption fell beyond the policy's cover.
October 29, 2025
Former Covea Execs To Launch New UK Motor Underwriter

Lumara Insurance, a new U.K.-based commercial combined managing general agent will launch before the end of the year, the company's incubator Mission said Wednesday.
October 29, 2025
TPT Appoints All-Female Trustee Board For New Pension Plan

TPT Retirement Solutions said Wednesday it has appointed an all-female board of trustees for its multi-employer collective defined contribution pension savings plan.
October 29, 2025
Standard Life Says Millions Have Lost Track Of Pension Pots

Millions of savers could be missing out on valuable retirement funds, Standard Life said Wednesday, as new research revealed widespread confusion and neglect around workplace pensions.
October 28, 2025
AXA Renews Insurance Partnership With Avantia Group

Insurer AXA UK revealed a five-year extension to its partnership with Avantia Group on Tuesday, reconfirming an arrangement under which AXA underwrites policies for customers of Avantia's Homeprotect brand.
October 28, 2025
UK Gov't Told To Reconsider Pension 'Triple Lock' Pledge

Britain's policymakers should establish a clear adequacy level for the state pension so it meets minimum income standards for retirement before potentially abandoning the triple lock policy for a more sustainable system, a trade body has said.
October 28, 2025
FCA Drafts Policy On Emergency Short-Selling Powers

The Financial Conduct Authority released a draft policy on Tuesday on how it would use its "emergency powers" to stop or restrict short selling, in a new regime that will anonymize individual major short sellers.
October 28, 2025
Hogan Lovells Guides Royal London's £16M Pension Deal

Insurer Royal London said Tuesday that it has covered £16 million ($21 million) of pension liabilities for British door manufacturer Premdor Crosby.
October 28, 2025
UK To Regulate ESG Ratings In Push For Market Transparency

The government has introduced legislation that will bring providers of environmental, social and governance ratings under the regulatory remit of the Financial Conduct Authority.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say.
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
How Regulators Want Online Platforms To Fight Finance Fraud

Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.
FCA Notes Industry Criticism But Keeps Transparency Focus

The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
Court Backing Of FCA Pensions Ruling Sends Key Message

The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
Pension Schemes Bill's Most Notable, Controversial Measures

The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.
Decoding Arbitral Disputes: Prestige's Jurisprudential Legacy

The U.K. Supreme Court's recent denial of appeal ended Spain's decades-long quest to enforce an €855 million arbitral judgment against a London insurer, throwing into stark relief the increasingly complex relationship between arbitral sovereignty, foreign state immunity and the shifting terrain of post-Brexit private international law, says Josep Galvez at 4-5 Gray's Inn.
UK Securities Tax Reform Will Be Welcomed By Investors

The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.