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Insurance UK

  • February 18, 2019

    Playboy Star Sentenced For Hiding Fraud From New Insurers

    An actress who starred in a Playboy film has been sentenced for fraud after failing to disclose a previous conviction for falsely claiming £44,000 ($57,000) in benefits when she applied for multiple new insurance policies, City of London Police said Monday.

  • February 18, 2019

    Insurers Should Pay Out On 'Piracy' Blast, Greek Bank Says

    A group of 10 insurers are liable for losses suffered by Piraeus Bank AE after an oil tanker it had an interest in was destroyed by an explosion off the coast of Yemen in 2011, the Greek lender’s lawyers argued at a London court on Monday.

  • February 18, 2019

    Judge Puts Seafood-Shipping Insurance Dispute On Ice

    A judge in London has stayed an insurance dispute over nearly 2,000 cartons of frozen shrimp that were allegedly damaged while being shipped from Madagascar to France, noting in his order that the postponement comes at the request of the company that filed suit.

  • February 18, 2019

    GDPR Prompts New Deal Between UK Data, City Watchdogs

    The U.K.'s data protection and financial watchdogs revised their promise to work together on Monday, agreeing to share information that either agency uncovers during an investigation as long as it complies with new European data protection rules. 

  • February 18, 2019

    EU To Allow UK CCPs To Clear Euro Trades In No-Deal Brexit

    The European Union’s top securities regulator said on Monday that it will allow three British-based securities clearinghouses to continue serving the bloc’s financial businesses for a year in the event of a “no deal” Brexit on March 29, in a move aimed at containing potential market turmoil.

  • February 15, 2019

    Zurich Opposes Covering $300M Lead Pollution Settlement

    Insurer Zurich American asked a St. Louis federal court Thursday to free it from helping a policyholder pay $300 million in legal settlements over poisonings and pollution in a small Missouri town that was home to the nation’s last lead ore smelter.

  • February 15, 2019

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen the European arm of a Japanese investment bank sue a Saudi billionaire, the former prime minister of Qatar face action involving a pricey mansion and a Swiss bank file claims against executives of a defunct business group being investigated by the U.K.'s fraud watchdog. Here, Law360 looks at those and other new claims in the U.K.

  • February 15, 2019

    Gov't Invests In AI Project To Detect Bogus Insurance Claims

    The U.K. government said Friday it will invest £13 million ($16.6 million) into dozens of new artificial intelligence and data analytics projects that include efforts to tackle the billions of pounds' worth of insurance fraud that takes place in the country each year.

  • February 15, 2019

    Insurers Say Funds Access At Risk Over Disclosure Exemption

    Consumers may no longer have access to a range of insurance funds if European Union authorities do not extend into 2020 a rule that allows investment managers to avoid time-consuming duplication of information that they are obliged to provide to investors, Europe’s insurers and asset managers warned on Friday.

  • February 15, 2019

    Funders Behind £200M RBS Settlement Get 2020 Trial Date

    An investment company accusing Lloyds Bank subsidiaries and other institutional investors of failing to pay their share of the costs of securing a £200 million ($254 million) settlement for RBS shareholders will have their case heard at trial in a year. 

  • February 14, 2019

    Pellet Cos. Trustee's Suit Belongs In State Court: Judge

    A Louisiana federal magistrate judge has recommended that a trustee’s suit against a German insurance company that issued a policy to a now-bankrupt heating pellet company be sent back to state court, holding that removal wasn’t appropriate because an officer of the debtor hadn’t agreed to it.

  • February 14, 2019

    Blocwide Pensions Don't Prevent Dangers, Groups Warn

    Europe’s proposals to introduce a blocwide pension product are “not the answer” to the EU’s pensions crisis and may hurt consumers if providers are not regulated and charge high fees that cut into savings, consumer groups said Thursday.

  • February 14, 2019

    VP Pence Criticizes EU Payments Waiver On Iran Sanctions

    U.S. Vice President Mike Pence criticized key European allies on Thursday for helping businesses to continue making payments into Iran, claiming that the regulatory carve-out could help undo Washington’s sanctions against the “murderous revolutionary regime” in Tehran.

  • February 14, 2019

    Fraudster Jailed For Providing Fake Car Insurance To Crooks

    A fraudster who set up fake companies to buy fleet insurance policies covering more than 70 vehicles, some of which were used in burglaries and drug deals, has been sentenced to two years in jail, police in London have said.

  • February 14, 2019

    MEPs Slash Fees On Euro Transfers, Promise €1B In Savings

    European lawmakers gave their final backing on Thursday to reforms that will help 150 million Europeans who live outside the eurozone avoid excessive bank charges when they make cross-border payments using the euro.

  • February 13, 2019

    EU Gov'ts Back Plan For Pan-European Pension Scheme

    The European Union edged closer to creating a blocwide pension regime on Wednesday after member state governments endorsed reforms aimed at narrowing the bloc's annual savings gap of €2 trillion ($2.3 trillion).

  • February 13, 2019

    FCA Urges Crackdown On Abuse In Nonequity Markets

    The investment industry still has work to do to improve its oversight of nonequity markets so that financial companies can prevent and catch criminals who are manipulating trades, the Financial Conduct Authority said Wednesday.

  • February 13, 2019

    Watch Where You're Going, Driverless Car Operators Are Told

    Motorists behind the wheel of some driverless cars should keep their eyes on the road and pay attention to their ride in case of an emergency, a trade organization for insurers in the U.K. warned on Wednesday.

  • February 13, 2019

    Reports Of Financial Fraud Soar As MPs Grill Lenders

    Reports of financial fraud are rising and have already topped 10,000 this fiscal year, the U.K.’s financial ombudsman revealed on Wednesday, as the complaints service said it is battling a surge of complaints about economic crime.

  • February 13, 2019

    UK Widens Terror Insurance Law To Cover Trade Losses

    Parliament has approved changes to anti-terrorism laws that will allow British businesses to buy insurance cover that will pay out if they lose custom because they cannot trade in the aftermath of a terrorist attack, the government has said.

Expert Analysis

  • Opinion

    Brexit International Arbitration Clause Is Misunderstood

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    Much of the criticism aimed at the international arbitration clause in the recent Brexit withdrawal agreement unfairly identifies a perceived lack of transparency and appears to be based on a lack of understanding about the process, says Margarita Michael of O'Melveny & Myers LLP.

  • The Lawyer's Daily

    How To Requalify As A Lawyer In Canada

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    Becoming a lawyer in Canada is a challenging experience for foreign qualified lawyers. In addition to the bar exam, hurdles include obtaining certification from the National Committee on Accreditation, and complications from moving to Canada halfway through the process, says Kyle Abrey, in-house counsel at the Royal Bank of Canada.

  • Legal Technology Is Likely To Flourish In The UK

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    The U.K. may soon surpass the U.S. in legal technology, thanks to regulatory reform, law firm investment and an entrepreneurial environment, says Bridget Deiters of InCloudCounsel.

  • Opinion

    Legal Operations Teams Are Gaining Popularity In EU

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    As the European and global economies continue to change, any legal department that does not want to get outflanked by faster, more agile competitors should consider the value that legal operations teams have to offer, says Hans Albers, president of the Association of Corporate Counsel Europe.

  • Why Proper Document Redaction May Be An Ethical Duty

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    Paul Manafort's attorneys recently filed a court document containing incompletely redacted information, highlighting the need for attorneys to become competent at redaction — or at least at verifying that redaction has been performed correctly. Failure to do either could be construed as legal malpractice, says Byeongsook Seo of Snell & Wilmer LLP.

  • Why The Flood Of GDPR Litigation Has Been Delayed

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    Eight months into the General Data Protection Regulation regime, we have not yet seen the expected deluge of U.K. class actions, but be warned — the floodgates will not remain closed, says Bryony Hurst of Bird & Bird LLP.

  • Opinion

    Law Schools Should Be More Like Medical Centers

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    Medical centers and their faculty matter to the practice of medicine. Law schools and their faculty do not matter to the practice of law, says J.B. Heaton of J.B. Heaton PC.

  • Opinion

    Courts Are Getting It Right On Litigation Funding Discovery

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    Earlier this month, a California federal court denied discovery into the identification of third-party funders with a financial interest in the outcome of an underlying patent infringement action. This decision in MLC v. Micron follows a long line of well-reasoned precedent across U.S. federal courts, say Matthew Harrison and Sarah Jacobson of Bentham IMF.

  • Worldwide Freezing Orders Can Backfire Without Proper Care

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    Worldwide freezing orders, which preserve a respondent's assets until the outcome of the substantive case, are an important weapon in the arsenal of a commercial litigant. However, as FSDEA v. Dos Santos demonstrates, courts lay heavy obligations upon WFO applicants, says Nicola McKinney of Grosvenor Law Ltd.

  • UK Litigation And Guidance Highlight Cybersecurity Risk

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    Recent developments in the United Kingdom emphasize the importance of companies implementing cybersecurity measures proactively both to prevent incidents and to argue in mitigation when, not if, the company does suffer a data breach, say Guillermo Christensen of Ice Miller LLP and Anupreet Amole of Brown Rudnick LLP.