Insurance UK

  • February 20, 2018

    Bid To End Barclays £321M Credit Card Countersuit Flops

    Barclays PLC scored an early victory in its £1.1 billion ($1.5 billion) legal fight with credit card provider CCUK Finance Ltd. on Tuesday when a High Court judge ruled the British lender can pursue a multimillion-pound payment protection compensation counterclaim against the firm.

  • February 20, 2018

    FCA Turns To Fintech To Improve Regulatory Reporting

    The U.K.’s financial services watchdog said Tuesday it wants to harness technology to improve regulatory reporting by firms in the sector, using automated processes that could help eliminate inaccurate and inconsistent filing.

  • February 20, 2018

    Pensions Watchdog Under Fire Over Carillion Deficit

    The scandal surrounding Carillion PLC, the construction giant which collapsed in January, deepened on Tuesday with revelations that Britain’s pensions regulator twice failed to act on requests to intervene from trustees of the firm's retirement scheme.

  • February 19, 2018

    UK Appeals Court Nixes Insurers' Bid To Cut Shipping Loss

    An appeals court in the U.K. rejected on Monday an attempt by a group of insurers to overturn a lower court’s ruling that Connect Shipping Inc. is entitled to claim £12 million ($16.8 million) in losses after one of its ships caught fire in the Red Sea near Egypt in 2012.

  • February 19, 2018

    US, UK Watchdogs Extend Special Relationship To Fintech

    The U.K.’s Financial Conduct Authority said Monday it has sealed an agreement with the U.S. Commodity Futures Trading Commission to coordinate innovation in financial technology, a step the regulators hope will ease mutual market access.

  • February 19, 2018

    Insurer Attacks 'Artificial' Defense Over Faulty Roof Job

    Great Lakes Insurance SE has said a loss adjuster’s defense in a £2.5 million ($3.5 million) lawsuit against it over a botched repair job is “highly artificial" and does not provide a realistic assessment of the firm’s responsibility for faulty renovations to the roof of a listed building.

  • February 19, 2018

    Surveyor Settles With Insurers In £5M Mortgage Settlement Suit

    Countrywide Surveyors Ltd. has settled a claim it brought against a group of insurers over their refusal to pay out £5 million ($7 million) which the surveyor paid to mortgage lenders to end a dispute over 72 wrongly valued properties, according to court documents.

  • February 19, 2018

    FCA Reports Surge In 'Clone' Fraud Warnings To Consumers

    The Financial Conduct Authority revealed on Monday that the number of fraudulent "cloned" companies it has warned U.K. consumers about leapt by approximately 25 percent in 2017.

  • February 19, 2018

    UK Insurance Body Beefs Up Board For Fraud Fight

    A nonprofit watchdog group dedicated to helping the U.K. insurance industry fight organized fraud networks revealed on Monday it had tapped Zurich Insurance and Allianz to add two senior executives to its board.

  • February 19, 2018

    Watch Out For Sale of Arcadia, MPs Tell Pensions Regulator

    A parliamentary committee is to urge the U.K. pensions regulator to be ready to respond following reports that colorful millionaire Sir Philip Green may sell his retail empire, which is burdened with a £565 million ($791 million) pension deficit.

  • February 16, 2018

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

    The last week has seen Chubb bring an action against U.S. forestry giant Weyerhaeuser, Russia's Kapital Insurance lodge a claim against more than a dozen insurers and reinsurers, and the Financial Services Compensation Scheme sue Heritage Corporate Trustees for breach of fiduciary duty. Here, Law360 looks at those and other new claims in the U.K.

  • February 16, 2018

    Ex-Micronesian Leader Hits The Rocks In Coral Reef Suit

    The High Court in London has ordered the former president of Micronesia and two associates to pay nearly £52,000 ($73,000) in costs following a dispute over a ship that allegedly hit a coral reef in Micronesian waters, according to documents seen on Friday.

  • February 16, 2018

    Brokers Told Not To Wait To Look At Base Outside UK

    U.K. insurance brokers should decide swiftly whether to set up a new European subsidiary to keep business channels open after Brexit, Ernst & Young and a leading industry lobby have warned.

  • February 16, 2018

    Hiscox Escapes Trial As Illness Halts Data Protection Case

    The Information Commissioner’s Office will not seek a retrial in its case against Hiscox Underwriting Ltd. over alleged breaches of data protection laws, because a key witness has fallen ill and will not be able to give evidence, a London court heard Friday.

  • February 16, 2018

    Financial Adviser Linked To British Steel Close To Default

    The U.K.'s statutory compensation program said Thursday it is preparing to declare Active Wealth (U.K.) Ltd. in default after the firm came under scrutiny for advice it gave to members of the troubled British Steel Pension Scheme.

  • February 15, 2018

    Kanye West, Lloyd's End $10M Row Over Canceled Shows

    Pop star Kanye West’s touring company and syndicates of Lloyd’s of London on Wednesday resolved their California federal court dispute over $10 million worth of coverage for shows he canceled after reportedly having a mental breakdown last year.

  • February 15, 2018

    Watchdog Eyes If UK Insurers Use Big Data For Profiling

    The Financial Conduct Authority is preparing to publish a report by June on how insurers use Big Data sources for pricing their policies, including whether decisions are influenced by the names or addresses of insurance customers.

  • February 15, 2018

    FCA Proposes Global Fintech 'Sandbox' To Boost Innovation

    The U.K.’s Financial Conduct Authority has set out plans to allow innovators in the financial sector to test new products and services in multiple jurisdictions without the burden of regulation, building on its four-year-old domestic "sandbox" scheme.

  • February 15, 2018

    A Chat With Hogan Lovells HR Chief Allison Friend

    In this monthly series, legal recruiting experts at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Allison Friend, chief human resources officer for Hogan Lovells.

  • February 15, 2018

    Pension Scheme Says Debt Regs No Defense For Shipping Co.

    A pension trustee company has said in new High Court filings that debt regulations a Chinese shipping company is relying on to dodge payment of around £6.4 million ($9 million) do not apply, and that the defendant is liable to pay the debts.

Expert Analysis

  • 6 Roles To Embrace In An Evolving Legal Industry

    Rob MacAdam

    Smart law firms are increasingly positioning professionals to proactively guide them as the legal landscape reshapes itself, harnessing six emerging roles within their organizational charts to embrace new approaches, tools and systems, says Rob MacAdam of HighQ.

  • Opinion

    This Year, Let’s Invest In Lawyer Resiliency

    krishtel.photo.jpg

    Highly profitable companies have comprehensive corporate wellness programs that realize plateauing health care costs, greater employee engagement, and a demonstrable competitive advantage. The legal field needs a similar awakening, says Rudhir Krishtel, a former partner of Fish & Richardson and senior patent counsel at Apple.

  • 5 Legal Technology Predictions For 2018

    Jeff Ton

    While each new year is expected to bring fresh challenges to the legal industry, 2018 will be particularly disruptive to the status quo. Both law firms and organizations that cater to the legal community should prepare for developments like increasing pressure from international clients and data security risks caused by multigenerational gaps, says Jeff Ton of Bluelock LLC.

  • An 11th-Hour Reprieve For Legal Entity Identifier Compliance

    Keily Blair

    Despite early indications that the U.K.'s Financial Conduct Authority and the European Securities and Markets Authority would require investment firms' clients to obtain legal entity identifiers by Jan. 3, regulators have now extended the deadline by six months. There is no extra credit for timely compliance, but in the long term, noncompliant entities cannot sit back and do nothing, say Keily Blair and Andrea Holder of Pricewaterh... (continued)

  • Inside France's 1st Deferred Prosecution Agreement

    Keith Krakaur

    France's recent settlement with HSBC under the new Sapin II anti-corruption framework could signal a new phase of government enforcement in the country. While the terms and structure of the settlement bear many similarities to deferred prosecution agreements in the U.S. and the U.K., they also differ in certain key respects, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Litigation Finance Trends To Watch In 2018

    Jay Greenberg

    Jay Greenberg and Max Volsky, co-founders of litigation finance platform LexShares Inc., analyze emerging trends based on conversations with their investors and executives in this rapidly evolving sector.

  • The Enneagram And The Practice Of Law

    Jennifer Gibbs

    Study of the Enneagram personality typing system can provide attorneys with better insights into themselves, and into those they interact with professionally, including clients, opposing counsel and judges, says Jennifer Gibbs of Zelle LLP.

  • What Open Banking Has In Store For Wealth Managers

    Neil Warlow

    This year, the revised Payment Services Directive takes effect in the EU, providing the legal framework for open banking, which is intended to encourage competition in the retail banking sector by enabling customers to consent to allowing third parties safe and secure access to their current accounts, says Neil Warlow of JLT Specialty.

  • What To Expect From Blockchain In 2018

    Austin Mills

    Blockchain's growth next year is unlikely to match its 2017 growth, but 2018 may well be a much more impactful year in the blockchain and cryptocurrency space. Emerging themes and initiatives include smart contracts, state-backed cryptocurrencies and the maturation of the initial coin offering market, says Austin Mills, head of the blockchain and cryptocurrency group at Morris Manning & Martin LLP.

  • Hearing The Need For More Women’s Voices In The Courtroom

    Carrie Cohen

    For many female attorneys, the results revealed in the New York State Bar Association’s recently adopted report on female litigators in the courtroom were not encouraging but not terribly surprising. Each stakeholder in the litigation process — judges, law firms and corporate clients — should contribute toward increasing female voices in the courtroom, says Carrie Cohen of Morrison & Foerster LLP.