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Plan To Recast £2.5T Pensions Sector Raises New Risks

The government unveiled a set of reforms Tuesday designed to tap the U.K.'s £2.5 trillion ($3.2 trillion) pension sector for investment in new technology startups — but experts say the shakeup could lead to an uncertain future for millions of workers saving for retirement.
May 28, 2024
Insurers, Charter School Assoc. Dismiss Ida Damage Row

A New Orleans-area charter school system and its insurers have agreed to dismiss their dispute over coverage for the system's Hurricane Ida damage claims, the parties told a Louisiana federal court Tuesday, saying "all claims and causes of action brought forth in the above captioned matter have been compromised."
May 28, 2024
Major Insurers Face £472M Claim For Russia-Stranded Planes

An aircraft lessor has brought a £472 million ($604 million) claim against dozens of major insurers over planes stranded since the invasion of Ukraine, following a landmark London court ruling that blocked attempts to move similar cases to Russia.
May 28, 2024
Labour Party Rules Out Any Additional Tax Rises

The Labour Party on Tuesday ruled out introducing any more tax rises in addition to measures it has already announced in the event it wins the July 4 general election.
May 28, 2024
Labour Derides 'Gimmick' Tory £2.4B State Pension Extension

The U.K.'s Labour Party said Tuesday it would maintain the state pension "triple lock" if it won the forthcoming general election, but stopped short of lifting income tax thresholds for the elderly.
May 28, 2024
Aviva Completes £130M Pension Deal With Telereal

A property investment company has offloaded £130 million ($166 million) of its pension liabilities to Aviva PLC, the insurer said Tuesday.
May 28, 2024
EU Investment Firms Told To Upgrade Marketing Reports

The European Union's financial markets regulator has said that investment firms should improve their marketing disclosures to investors, calling on national watchdogs to act against rule-breakers.
May 28, 2024
Pension Deals Market Working For Small Providers, Aon Says

The deal market for small pension schemes looking to offload their liabilities to insurers is working despite fears that such plans are being crowded out of the market, Aon said Tuesday.
May 24, 2024
The UK Laws That Will Pass Or Fail As Election Looms

Prime Minister Rishi Sunak's decision to call an early general election to be held on July 4 has left several pieces of legislation hanging in the balance during the so-called "wash-up" period before Parliament is formally dissolved, while others have been pushed through.
May 24, 2024
Labour Gov't Could Force Big Tech Into Fraud Repayments

A potential new Labour government means a turning point in tackling financial fraud if it should force big tech companies like Meta and Google to join banks in having to reimburse customers duped into sending fraudsters money, according to lawyers.
May 24, 2024
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen an IT engineer seek permission to search a landfill hiding a hard drive supposedly storing millions of pounds in bitcoin, Glencore take on legal action by American Century Investments, gold payment app Glint bring a breach of duty claim against FRP Advisory, and an ongoing dispute between a solicitor and the Solicitors Regulation Authority. Here, Law360 looks at these and other new claims in the U.K.
May 24, 2024
FCA Allows GAP Insurance Sales To Resume

The Financial Conduct Authority said Friday it has allowed several insurers to resume the sale of guaranteed asset protection insurance, months after putting a restriction on sales to rectify problems with the design of the product.
May 24, 2024
Snap July 4 Election Leaves Pension Reform In Disarray

The government's decision to call a snap general election for July 4 has left the U.K.'s pension sector in limbo, experts say, with uncertainty over whether the next administration will continue with an ambitious reform program.
May 24, 2024
Law Firm Partner Says Sorry For Expert Witness Interference

A Penningtons Manches Cooper LLP partner has apologized to a London court for overstepping in his interference with an expert witness' statement amid his client's feud with AXA XL.
May 24, 2024
Generali Italia Denies Owing £1M To Exec With Eye Disease

Italy's largest insurance company has denied that it owes more than £1 million ($1.2 million) in incapacity benefits and damages to a Quest Software sales director suffering from a degenerative eye disease after rejecting his claim.
May 24, 2024
FCA Bans Two Advisers Accused Of Misleading Clients

The Financial Conduct Authority has banned two advisers from working in financial services for "recklessly" exposing pension holders to high-risk investments, the regulator said Friday.
May 24, 2024
Travelers Insurance Sued Over Fire-Damaged Warehouse

A U.K.-based building operator is suing its insurer for breach of contract for refusing to pay out on its multimillion-pound policy after fires destroyed its Scottish warehouse because the company allegedly fell short of security requirements and other policy provisions.
May 24, 2024
No Easy Fix For Pensions Marketing Rules, Minister Warns

The government has said that there is no straightforward way to fix a quirk of privacy rules that discourages pension providers from sending emails to retirement savers.
May 24, 2024
Ex-Aviva Staffer's Tribunal Outbursts Not A Bar To Fair Trial

Aviva must face a former employee's discrimination claim even though her actions during hearings — including accusations of institutional racism in employment cases — is likely to prevent the trial being fair, a tribunal has ruled.
May 23, 2024
Insurer Warns Of Surge In 'Crash For Cash' Fraud

Insurer Allianz UK has urged motorists to watch out for dangerous scams, as it warned of a 6,250% rise in 2023 of "crashes" involving motorbikes and scooters.
May 23, 2024
Legal Alliance Warns Of Growing FCA Burden On Insurers

British regulators are pressuring the insurance industry in the name of consumer protection, but at the expense of business growth and security, a report by an alliance of global insurance-focused law firms said Thursday.
May 23, 2024
Trader Denies Using 'Magic Money Tree' At £1.4B Fraud Trial

Sanjay Shah, a former hedge fund owner who is accused of defrauding Denmark's tax authority out of £1.4 billion ($1.8 billion), denied using a "magic money tree" in his trading at a London court Thursday.
May 23, 2024
Pension Plans Must Get Handle On Data Quality, TPR Says

Retirement savings plans in the U.K. face increased regulatory scrutiny to ensure that Britain has the best possible standards on safeguarding the personal data of clients, the pensions watchdog has said.
May 23, 2024
Tech Resilience Regime Ambiguous, European Banks Say

A trade body representing banks in Europe warned on Thursday that new regulations requiring finance firms to prevent risks arising from cyberattack or systems failure are ambiguous and could create differing approaches to compliance.
May 23, 2024
FCA Fines HSBC £6.2M For Mistreating Customers In Arrears

The Financial Conduct Authority said Thursday that it has fined HSBC £6.2 million ($7.9 million) for inadequate treatment of customers in financial difficulty.
May 22, 2024
Insurers Lose Appeal Over $15M Hanjin Shipping Settlement

Insurers should not be entitled to recover a portion of recoveries for uninsured losses, a London appeals court ruled Wednesday, in a dispute over a $15 million settlement following the collapse of Hanjin Shipping.

Editor's Picks

Litigation Funding Demand Rises As Pandemic Suits Percolate

More corporate clients than ever have pursued third-party litigation funding in England this year, as the COVID-19 pandemic has forced businesses to think more conservatively and try to prioritize the cash on their balance sheets.
Reforms Abroad For Litigation Funders Raise Questions In UK

Australia's recent decision to introduce a licensing regime for its litigation funders has stirred up attention across the industry, but experts say it appears unlikely that the U.K. will move beyond its current combination of light-touch regulation and court oversight.
Coronavirus: The Latest EU Court Closures And Restrictions

UPDATED March 22, 2021, 10:35 AM GMT | As courts across the region take measures to prevent the spread of the novel coronavirus, some are restricting access and altering their procedures. Here is a roundup of changes.

Expert Analysis

What Cos. Should Know About The EU Greenwashing Rules

The EU's recently proposed Green Claims Directive introduces new rules to improve the transparency and honesty of environmental claims in advertising, which will help ensure that consumers receive accurate and reliable information to make informed purchasing decisions, says Daja Apetz-Dreier at Morgan Lewis.
The Art Of Corporate Apologies: Crafting An Effective Strategy

Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.
Dissecting Recent Developments Against The Misuse Of NDAs

The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.
What To Know About The Russia-Stranded Plane Ruling

The High Court's recent decision in Zephyrus Capital Aviation v. Fidelis Underwriting, rejecting reinsurers' U.K. jurisdiction challenges in claims over stranded planes in Russia, has broad implications for cross-border litigation involving exclusive jurisdiction clauses, says Samantha Zaozirny at Browne Jacobson.
3 Notable Pensions Reforms In Spring Budget

The U.K. government’s spring budget introduced reforms to improve pension outcomes through the value for money framework and the lifetime provider model, as well as to encourage investments in Britain — three interlinked areas that could pressure trustees and providers to rethink how they approach investments, say Liz Ramsaran and Marcus Fink at DWF.
UK Arbitration Ruling Offers Tips On Quelling Bias Concerns

An English court's recent decision in H1 v. W to remove an arbitrator because of impartiality concerns offers several lessons on mitigating bias, including striking a balance between arbitration experience and knowledge of a particular industry, and highlights the importance of careful arbitrator appointment, says Paul-Raphael Shehadeh at Duane Morris.
Bias Ruling Offers Guidance On Disqualifying Arbitrators

An English court's recent decision in H1 v. W, removing an arbitrator due to bias concerns, reaffirms practical considerations when assessing an arbitrator's impartiality, and highlights how ill-chosen language by an arbitrator can clear the high bar for disqualification, say Andrew Connelly and Ian Meredith at K&L Gates.
Insurance Policy Takeaways From UK Lockdown Loss Ruling

An English court's recent decision in Unipolsai v. Covea, determining that insurers' losses from COVID-19 lockdowns were covered by reinsurance, highlights key issues on insurance policy wordings, including how to define a "catastrophe" in the context of the pandemic, says Daniel Healy at Brown Rudnick.
What COVID Payout Ruling Means For Lockdown Loss Claims

While the High Court's recent COVID-19 payout decision in Gatwick v. Liberty Mutual, holding that pandemic-related regulations trigger prevention of access clauses, will likely lead to insurers accepting more business interruption claims, there are still evidentiary challenges and issues regarding policy limits and furlough, say Josianne El Antoury and Greg Lascelles at Covington.
Spartan Arbitration Tactics Against Well-Funded Opponents

Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases

The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.
Unpacking The Building Safety Act's Industry Overhaul

Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.
A Rare Look At Judicial Interpretation Of LEG Exclusions

A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.
Ruling In FCA Case Offers Tips On Flexible Work Requests

In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.
Breaking Down The New UK Pension Funding Regs

Recently published U.K. pension regulations, proposing major changes to funding and investing in defined benefit pension schemes, raise implementation considerations for trustees, including the importance of the employer covenant, say Charles Magoffin and Elizabeth Bullock at Freshfields.