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Insurance UK
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April 01, 2025
DWF Avoids Doc Request In Health Data Breach Claim
DWF Law LLP dodged an order in court Tuesday to hand over documents to three people who allege that the law firm unlawfully shared their health data, after a London judge concluded that the request was merely a fishing expedition.
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April 01, 2025
EU Watchdogs Call For Simplified Securitization Rules
The European Union's finance watchdogs have called on the European Commission to simplify the rules governing securitizations in a bid to make the market more competitive.
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April 01, 2025
EBRD Launches €1B Insurance Facility For Ukrainian Exports
The European Bank for Reconstruction and Development has launched a new war insurance facility that it says will provide up to €1 billion ($1.07 billion) in cover for Ukrainian exports every year.
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April 01, 2025
Reform Pensions To Tackle Retirement Risks, Think Tank Says
Pension reforms are necessary to ensure that savers can successfully navigate the "risks and complexities" of managing their retirement savings in later life, the Institute for Fiscal Studies warned Tuesday.
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April 01, 2025
Fenchurch Warns On COVID Insurance Claim Limitations
Insurance brokers have less than a year to file claims on behalf of their clients for business losses suffered during the national COVID-19 lockdowns, a law firm warned on Tuesday.
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April 01, 2025
Norton Rose-Led Zurich To Buy Stake In £150M M&A Insurer
Zurich Insurance Group Ltd. has agreed to acquire a significant minority stake in Icen Risk Ltd., the U.K. insurer that specializes in mergers and acquisitions said Tuesday, a move which will support the Swiss giant's expansion across Europe and the U.S.
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March 31, 2025
Cocktail Bar Chain Settles £4M COVID Loss Insurance Claim
The operator of the Dirty Martini cocktail bar chain has settled its £4 million ($5.2 million) claim against a Maltese insurer for losses it claimed to have suffered during the COVID-19 pandemic.
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March 31, 2025
'Still Early Days': A Litigation Funder Stays Optimistic
As part of a series of interviews with lawyers, class representatives and litigation-funders to mark the 10-year anniversary of the collective proceedings order regime, Law360 spoke to Neil Purslow of Therium Capital Management about the future of litigation funding for CPOs in the wake of the Supreme Court's PACCAR ruling.
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March 31, 2025
Trade Body Seeks Consumer Duty Slack For Wholesale Banks
A financial services trade body on Monday is pressuring regulators to exempt wholesale banks servicing primarily corporate clients from the Consumer Duty regime to give companies easier access to capital.
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March 31, 2025
Lloyds Bank Covers £5.1B Pension Liabilities With Rothesay
The trustee of two Lloyds Banking Group pension schemes said Monday it has penned two insurance policies totaling £5.1 billion ($6.6 billion) with Rothesay Life PLC to cover the cost of unexpected increases in the life expectancy of their members.
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March 31, 2025
Myanmar Earthquake Exposes Insurance Protection Gap
The scale of the economic losses from the Myanmar and Thailand earthquake is likely to expose widespread underinsurance in the region, a broker has warned.
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March 31, 2025
Claims Groups Slam Gov't Report On Personal Injury Reform
The government's plan to reduce premiums for motorists through its controversial reforms to claims for "whiplash" injuries three years ago have failed, consumer advocates said, after an official report found prices had fallen by less than promised.
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March 31, 2025
BoE Proposes Raising Deposit Protection Scheme Limit
The regulatory arm of the Bank of England set out proposals on Monday to raise the deposit protection limit of the Financial Services Compensation Scheme from £85,000 ($110,000) to £110,000, warning banks that they should prepare now.
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March 28, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen sparkling winemaker Nyetimber hit a rival distillery with an intellectual property claim, Newcastle United's former owner Mike Ashley target the club's ex-vice president for damages tied to a fraudulent investment, and a real estate agency file a legal claim against law firm Winston & Strawn LLP. Here, Law360 looks at these and other new claims in the U.K.
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March 28, 2025
UK Pensions Watchdog Pledges To Cut Red Tape
The U.K.'s retirement savings watchdog on Friday committed to cutting the "burden" of unnecessary and outdated financial regulations that could be hampering pension savers' interests.
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March 28, 2025
Gov't May Face £70M In Claims From Fire Insurance Scheme
The government could face up to £70 million ($90.7 million) in insurance claims under a temporary fire safety professional indemnity scheme it introduced three years ago, a top official said.
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March 28, 2025
Pension Partners Guides £2M Benefits Deal For Housing Co.
A U.K. housing scheme operator's pension plan has agreed to a £2 million ($2.6 million) full scheme buy-in with financial services group Just, securing the benefits of 15 retirees and eight deferred members, consultant K3 said Friday.
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March 28, 2025
FCA Tests 'Targeted Support' Model With 12 Finance Firms
The Financial Conduct Authority said Friday it has given 12 companies until April to give targeted support to consumers, an experiment ahead of a new regulatory model that will fill the gap between general guidance and advice for pensions and investments.
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March 27, 2025
Huawei Defeats Widow's Delayed Claim Over Unpaid OT
A former Huawei employee's widow can't pursue the company for allegedly discriminating against her husband because she waited too long to launch her case, an employment tribunal has ruled.
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March 27, 2025
6 Insurers Penned £5B-Plus In Pension Deals In 'Record' 2024
Six insurers wrote over £5 billion ($6.5 billion) each in pension deals for the first time in 2024, Lane Clark & Peacock LLP said Thursday, highlighting a risk transfer market "firing on all cylinders" with new entrants increasing competition.
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March 27, 2025
EU Insurer Watchdog Urges Full Buffer Requirement In Crypto
The European Union's insurance watchdog on Thursday advised the EU's main executive body to impose on insurers a 100% capital buffer requirement for all crypto-asset investments.
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March 27, 2025
InvestAcc Group To Buy AJ Bell Pension Unit For £25M
Investment platform company AJ Bell said Thursday it will sell its pensions administration arm to InvestAcc Group Ltd. for £25 million ($32.5 million), amid a business restructure.
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March 27, 2025
UK Aims To Boost Competitiveness With Derivative Rule Cuts
Britain's two largest finance watchdogs Thursday proposed extending exemptions to margin requirements to cover unfavorable price movements for traders of some derivatives contracts, looking to keep the U.K. globally competitive.
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March 27, 2025
Gov't Urged To Review State Pension Ahead Of Tax 'Cliff Edge'
The U.K. government must reform the state pension or face a "bizarre tax cliff edge" where benefits exceed personal allowance thresholds, experts warned.
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March 27, 2025
Pension Watchdog Vows To Improve Internal Pay Gaps
White, heterosexual men continue to earn more money on average than their colleagues at The Pensions Regulator, data published by the retirement watchdog shows.
Expert Analysis
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An ICO Reminder On Managing Subject Access Requests
Although the U.K. Information Commissioner's Office’s recent seven reprimands regarding mismanagement of data subject access requests are unusual, it is worth organizations considering what resources and training may be available to ensure these are properly managed in the future, says Ross McKenzie at Addleshaw Goddard.
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Opinion
Increasing Law Firm Polarization Will Degrade Rule Of Law
As evidenced in recent instances of law firms separating from attorneys who represented certain industries or espoused certain views, firms and the legal practice itself have grown troublingly polarized and intolerant of dissent, says Rebecca Roiphe at New York Law School.
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The FTX Fallout So Far And What May Come Next
While the downfall of FTX is likely to cause substantial losses and lead to extensive litigation, it will hopefully precipitate a renewed focus on regulating the crypto market in a responsible way that gives more protection to consumers, says Dan Wyatt at RPC.
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Hard Insurance Market Will Influence Legal Industry, Economy
As the cost of claims starts to outstrip the value of premiums, insurers are denying more claims and considering scaling back coverage, leading to an influx of legal work and potential holes in the market, says Bruce Hepburn at Mactavish.
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Digital Nomads: Key Considerations For Global Businesses
As employers and employees embrace remote, location-independent work arrangements enabled by technology, they must be mindful of the employment law and tax consequences such arrangements may trigger, say Hannah Wilkins and Audrey Elliott at Eversheds Sutherland.
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New License Eases Sanctioned Clients' Legal Fee Payments
The general license recently issued by the U.K. Office of Financial Sanctions Implementation permitting the payment of legal fees owed by a sanctioned company or individual will potentially reduce the agency's backlog and is welcome news for both lawyers and OFSI staff, say Zulfi Meerza and Syed Rahman at Rahman Ravelli.
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Preparation Is Key To Businesses Minimizing Cyber Breaches
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.
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UK Policyholders Can Expect Better COVID Claims Handling
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.
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A Recovery Option For Lenders With Planes Stuck In Russia
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.
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Series
My Favorite Law Prof: How I Learned To Argue Open-Mindedly
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.
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4 Key Skills For An Effective Attorney Coaching Conversation
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.
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New Clarity On Directors' Creditor Duty In Insolvency Context
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.
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FCA Pension Scheme Case Highlights Issues Ripe For Reform
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.
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What An Organization Can Do To Protect Its Supply Chains
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.
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German Draft Bill Reflects Trend Toward New Antitrust Tools
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.