Insurance UK

  • March 16, 2018

    A Chat With Littler Info Chief Durgesh Sharma

    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 Durgesh Sharma, CIO at Littler Mendelson PC.

  • March 16, 2018

    Zurich Reaches Landmark Deal For Future Cancer Treatments

    A U.K. cancer patient has secured a groundbreaking deal with Zurich Insurance agreeing to pay for future medical therapies that are yet to be discovered, his lawyers told Law360 on Friday.

  • March 16, 2018

    EU Revisits Solvency II To Address Insurers' Complaints

    The European Commission is preparing for a major review of its insurance regime later this month and will consider how to scrap “undue barriers” that restrict companies’ financial activities.

  • March 16, 2018

    More Finance Firms Commit To Boosting Female Leadership

    The government announced on Friday that 45 U.K. financial services firms have signed up for an initiative to boost the number of women in leadership roles, bringing to 205 the number of businesses that have joined.

  • March 16, 2018

    BOE Says Brexit Poses 'Material Risks' To Financial Sector

    The Bank of England told lawmakers and regulators in the U.K. and Brussels on Friday that they need to do more to prevent “material risks” from Brexit disrupting Britain’s financial sector.

  • March 16, 2018

    UK Credit Insurers Hit With Biggest Claims Since 2009

    U.K. credit insurers have been forced to pay out the highest level of claims for payment of bad debts since 2009 after a succession of major companies went bust, new data revealed on Friday.

  • March 15, 2018

    Why Personal Injury Attys Are Wary Of New UK Claims Portal

    The U.K. Justice Ministry is engaged in talks for a new website that would let claimants contact insurers directly for automotive-related claims, leaving many British personal injury lawyers wary of an existential threat to their business as well as the veil of secrecy surrounding the talks.

  • March 15, 2018

    UK Motorbike Insurer Quits Ireland, Blames Brexit

    U.K.-based MCE Insurance on Thursday said that it is shutting down its operations in Ireland and blamed the U.K. government for failing to clarify how Britain will transition out of the European Union.

  • March 15, 2018

    Clyde & Co. Teams Up With US Insurtech Firm

    Law firm Clyde & Co. LLP on Thursday announced that it will partner with a U.S. insurtech hub to help connect the insurance industry with innovators and startup companies.

  • March 15, 2018

    Existing Laws Shield Against Big Data Risks: EU Supervisors

    The European Union’s top financial supervisors said on Thursday that the rise of “big data” does not require any changes to European laws and regulations, since existing legislation should safeguard consumers and banks against any risks.

  • March 15, 2018

    James Bond Director Sues For £2.5M Over Movie Set Injury

    An assistant director who suffered “career-ending” injuries on the set of the James Bond movie Spectre has sued the film’s producers to recover £2.5 million ($3.5 million) from their insurer Chubb, his lawyers told Law360.

  • March 15, 2018

    European Banking Watchdog Turns Spotlight On Fintech

    The European Union’s banking watchdog published its “fintech roadmap” on Thursday, setting out a series of supervisory priorities for the next two years, including monitoring financial technology firms so they can be consistently regulated across the EU.

  • March 14, 2018

    British Steel Pension Trustees To Launch New Scheme

    A replacement retirement fund for 83,000 members seeking to leave the troubled British Steel Pension Scheme will be launched later this month, trustees announced on Thursday, ending months of uncertainty about the future of the savers.

  • March 14, 2018

    Rockpool Partner Sues For £6.6M Over Dilution Of Shares

    A partner of Rockpool Investments LLP is seeking at least £6.6 million ($9.2 million) in damages from the private equity firm, alleging that her co-partners breached their contract by diluting the value of her shares in the firm without her knowledge and input in the process.

  • March 14, 2018

    How Legal Departments Can Prepare For The Upcoming GDPR

    Some multinational companies and their legal departments have been taking steps toward complying with the European Union’s upcoming data protection regime, while others have only just begun or aren’t even considering action before the regulation goes into effect in less than 75 days. Here, Law360 looks at how businesses and their legal departments can prepare for the approaching May 25 implementation date.

  • March 14, 2018

    Prudential Boosts Solvency II Surplus By £300M With Spinoff

    Major U.K. insurance and financial services group Prudential PLC said on Wednesday that it will split its British business from its U.S. and Asian operations, in a move that will boost its Solvency II capital surplus by £300 million ($419 million).

  • March 14, 2018

    EU Lawmakers Say No Special Trade Deal For UK Firms

    The European Parliament on Wednesday voted to offer the U.K. a trade agreement without any special access for financial services or other industries after the nation leaves the European Union.

  • March 14, 2018

    EU Needs New Financial Regulation For Nonbanks, ECB Says

    European policy needs to be enhanced by introducing new instruments that help to target risks caused by financial services firms other than banks, the European Central Bank’s vice president said on Wednesday.

  • March 14, 2018

    Don't Rush To Rewrite Pensions Laws, Minister Warns

    The U.K.'s pensions minister told a parliamentary committee on Wednesday that it would not be necessary for politicians to draw up "quick laws" to regulate proposed savings schemes that offer flexible "ambitions" for retirement income rather than promising specific returns.

  • March 14, 2018

    UK Insurers Allowed To Keep Arbitrator In WTC Dispute

    The Court of Appeal in London has overturned a ruling that forced Allianz Insurance to appoint a new arbitrator in its dispute over reinsurance liabilities stemming from the 2001 terrorist attacks on New York.

Expert Analysis

  • 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.

  • Legal Technology In 2017: Trends And Implications

    Nicole Moriniere

    This has been a year of critical mass for legal tech and a transformative year for the legal industry as a whole. We also witnessed increased collaboration between legal tech companies and more traditional players, says Nicole Moriniere of Lexoo.

  • A GDPR Primer For US-Based Cos. Handling EU Data: Part 2

    Caroline Krass

    In the final part of this series about the General Data Protection Regulation, attorneys at Gibson Dunn & Crutcher LLP explain the stringent restrictions placed on cross-border data transfers to countries outside of the European Union, various compliance mechanisms and penalties, and potential deviations in implementation among EU member states.

  • A GDPR Primer For US-Based Cos. Handling EU Data: Part 1

    Caroline Krass

    While many U.S. companies have already begun work on complying with the General Data Protection Regulation, it has such a long reach that it may encompass many organizations that would not ordinarily expect to be subject to European data privacy laws, say attorneys at Gibson Dunn & Crutcher LLP.