Insurance UK

  • November 23, 2017

    Allianz Acts To Help Smaller UK Insurers After FCA Concerns

    Allianz Insurance PLC has unveiled new software to help brokers target underinsured clients after the Financial Conduct Authority warned that 40 percent of smaller British businesses may lack sufficient cover.

  • November 23, 2017

    British Watchdog Says Investors Want Better Risk Reporting

    Investors want improved disclosures from company boards about how they identify and manage risk to protect the sustainability of banks and businesses, according to a report released Thursday by Britain’s accounting and financial reporting watchdog.

  • November 23, 2017

    Financial Adviser Left 'Out Of Pocket' By Insurers' Dispute

    Lighthouse Group PLC, a financial adviser suing two insurers over their refusal to honor claims linked to the sale of unregulated investments, has said it “should not be left out of pocket” because the insurers cannot agree which firm is liable to indemnify the company.

  • November 23, 2017

    Transparency Concerns Taint Hedge Fund Risk Analysis In EU

    European regulators are improving their ability to measure risks to the global financial system posed by the murky multitrillion-dollar hedge fund industry, but major gaps still remain, an international securities watchdog said Thursday.

  • November 23, 2017

    UK To Boost Funding For Fintech Startups to Fuel Growth

    Financial technology startups are set for a big funding boost under U.K. government budget proposals to unlock £20 billion ($26.62 billion) for new technology over the next 10 years, providing new support for a fledgling industry already boosted by special regulatory programs.

  • November 23, 2017

    City Pushes UK Gov't To Shield Legal Sector From Brexit Hit

    An influential financial services lobby group said Thursday the government needs to do more to protect Britain's legal industry and urged it to set out plans to secure the sector’s access to European markets after Brexit.

  • November 23, 2017

    Clyde & Co Snags 2 Senior Partners To Launch Bristol Base

    Clyde & Co. LLP has hired two leading insurance dispute lawyers to launch a new office in the southwest city of Bristol in 2018, the London-headquartered firm announced on Thursday.

  • November 23, 2017

    UK Insurers Cheer Gov't Decision Not To Hike Premium Tax

    U.K. insurers expressed their relief on Thursday after Chancellor Philip Hammond revealed in his Budget that he was not raising insurance premium tax for a fourth time in two years.

  • November 22, 2017

    Aviva Sued For Allegedly Refusing To Transfer £212K Pension

    Insurer Aviva Life and Pensions UK Ltd. is being sued for allegedly refusing a customer’s request to transfer a £212,000 ($282,193) pension plan held with the insurer to an occupational pension scheme on the grounds it thought the customer’s pension would be at risk, according to a claim filed with the High Court in London.

  • November 22, 2017

    EU Pension Plan Like 'Octagonal Rubik's Cube,' MEP Says

    Developing the pan-European pension product is like “trying to solve an octagonal Rubik’s Cube,” a European Parliament rapporteur admitted on Wednesday, urging policymakers to keep proposals as simple as possible.

  • November 22, 2017

    UK Promises Tough Paradise Papers Response In Budget

    Britain’s Treasury promised new measures to tackle tax dodging on Wednesday in its budget statement and is set to bolster enforcement following a string of leaks that highlight how the U.K. is a major conduit for tax evasion.

  • November 22, 2017

    France Seeks Local Control Of EU Insurance Capital Buffers

    France's central bank governor urged a European Union watchdog on Wednesday to allow national regulators to continue approving the capital buffers that insurers must hold to meet the bloc's solvency requirements.

  • November 22, 2017

    Insurers Eager For Pan-European Pension, EIOPA Says

    Insurers and asset managers are developing new products in the expectation that the European Union's ambitious pan-European pension project could soon become reality, the bloc's top insurance regulator said Wednesday.

  • November 22, 2017

    EIOPA Tells Insurers To Brace For Worst-Case Brexit

    The chairman of the European Insurance and Occupational Pensions Authority on Wednesday urged firms to consider “all possible solutions” to help them lessen the risks that they will face if Britain crashes out of the European Union without a trade deal in place.

  • November 21, 2017

    UK Charity Insurer Pushes For Sector's Insurance Tax Break

    U.K. Chancellor Philip Hammond faced pressure on Tuesday to exempt charities from paying insurance premium tax when he announces Wednesday’s budget, with key organizations including a charity insurer saying they are battling financial strain as it is.

  • November 21, 2017

    Slap £10M Fines On Big Accounting Firms, Watchdog Urged

    Britain’s accounting watchdog could start levying fines of more than £10 million ($13.2 million) on the Big Four professional services firms under recommendations published Tuesday, more than double the highest penalty it has handed out so far.

  • November 21, 2017

    Be Alert For Money Laundering, Watchdog Tells UK Law Firms

    The legal profession remains a high risk for money laundering, with phony investment schemes one of the biggest dangers, the regulatory body for solicitors in England and Wales warned on Tuesday.

  • November 21, 2017

    EU Securities Regulator Clarifies Insider Trading Laws

    Europe’s securities watchdog moved Tuesday to clear up confusion in the financial sector about insider trading laws governing transactions made by senior staff and trading carried out by their firm as it is prepares to announce its results.

  • November 21, 2017

    Motor Insurers To Save Billions If Key Reforms Pass, EY Says

    U.K. motor insurers could save up to £2.5 billion ($3.3 billion) next year if widely anticipated changes to compensation calculators are made and reforms to clamp down on spurious accident claims are passed, Ernst & Young said Monday.

  • November 21, 2017

    Sompo International Picks Luxembourg To Beat Brexit

    A Bermuda-based speciality insurer has revealed it is to set up a new headquarters in Luxembourg to allow it to continue serving European clients beyond Brexit in March 2019.

Expert Analysis

  • Passing Stress Tests With Convertible Bond Strategies

    Dan Partlow

    Solvency II has been a challenging regulation for European insurers, but insurers seeking to pass stress tests can rely on strategies like convertible bonds, which provide significant capital requirement relief without sacrificing return on invested assets, say Dan Partlow and Hart Woodson of Advent Capital Management LLC.

  • Applying The Investors' Playbook To Legal Career Planning

    Howard Cohl

    Nothing has been more instrumental in my role as a legal recruiter than what I learned from a variety of hedge fund managers, venture capitalists and investment bankers — how to analyze a deal and make a decision quickly. It boils down to the traditional SWOT analysis, says Howard Cohl, director in Major Lindsey & Africa’s emerging markets group.

  • The Potential Effect Of Data Portability Under GDPR

    José Vega

    While many aspects of the EU's General Data Protection Regulation may be causing consternation in boardrooms around the world, one particularly innovative provision could benefit individuals and businesses alike by leveling the competitive playing field — the right to data portability, say José Vega and Amy Puckett of Bradley Arant Boult Cummings LLP.

  • Make Way For The 'Unicorns'

    Lucy Endel Bassli

    By "unicorn" I don’t mean the next great tech startup with a valuation of $1 billion. I mean the new breed of lawyers realizing that there are better ways to get their day jobs done, says Lucy Endel Bassli, assistant general counsel leading the legal operations and contracting functions at Microsoft Corp.

  • Opinion

    Representing Women At The Intersection Of Law And Finance

    Andrea Mitchell

    To the extent that companies have tolerated predominantly male leadership in the past because it was deemed necessary for growth and prosperity, or viewed diversity and the underrepresentation of women strictly as human resources issues, a growing body of research suggests otherwise, say Andrea Mitchell and Valerie Hletko of Buckley Sandler LLP.

  • The Law Firm CFO’s Role In The Strategic Planning Process

    Tyler Quinn

    Today's law firm chief financial officer should be involved in many areas beyond traditional financial management, including operations, risk management and information technology. He or she can support strategic planning throughout the process, from development of the plan to its implementation, measurement and eventual evolution, say Tyler Quinn and Marc Feigelson of Kaufman Rossin PA.

  • Law Firms Must Transition To An Industry Sector Approach

    Heidi Gardner

    Clients are beginning to expect and demand that their external lawyers provide advice tailored to the client's industry. Aside from this, law firms should want to move toward a sector approach because industry-focused groups are a natural place for cross-practice collaboration to flourish, say Heidi Gardner and Anusia Gillespie of Harvard Law School.

  • UK Prime Minister's Speech Fails To Provide Clarity

    David Mundy

    U.K. Prime Minister Theresa May's speech in Florence last month was intended to create momentum in the ongoing Brexit negotiations, but has been criticized as vague and insubstantial. It seems that for the time being, the U.K. government's attitude toward Brexit negotiations is to wait for a solution to turn up, says David Mundy of Bircham Dyson Bell LLP.

  • Why You Should Consider Hyperlinking Your Next Brief

    Christine Falcicchio

    The shift to electronic filing has somewhat eased the task of reviewing briefs and their supporting files. An e-brief takes e-filing to the next level, says Christine Falcicchio, a principal at Strut Legal Inc.

  • A Close Look At Deferred Prosecution Agreements: US Vs. UK

    Amaee, Robert Cropped HiRes.jpg

    Companies that become subject to parallel investigations in the U.S. and the U.K. must be mindful of the fact that taking the same approach to disclosure and cooperation in both jurisdictions may not lead to the most favorable outcome, says Robert Amaee, head of Quinn Emanuel's white collar and corporate investigations practice in London.