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Insurance UK

  • September 13, 2018

    EU Disclosure Rules Are Misleading Investors, Lobbyists Say

    The Association of Investment Companies has called for the suspension of "actively misleading" European rules that require fund managers to provide investors with details on how they expect their products to perform, urging U.K. politicians to launch an inquiry into the issue.  

  • September 13, 2018

    UK Puts Limits On Ex-SFO Chief's New Role At Slaughter

    The former head of the Serious Fraud Office will be kept away from working on any matters he was involved with while he led the U.K.'s white collar watchdog when he joins City law firm Slaughter and May as a senior consultant, according to a government letter published Wednesday.

  • September 13, 2018

    BA Pension Plan Transfers £4.4B Exposure In Landmark Deal

    British Airways’ pension scheme has shifted £4.4 billion ($5.8 billion) of liabilities to the insurance industry in Britain’s largest ever transaction of its kind, after regulators boosted their scrutiny of retirement funds following a series of corporate collapses.

  • September 13, 2018

    EIOPA Wants 'Mystery Shopper' Investigation Powers

    Europe’s top insurance regulator has told Law360 that it would welcome new powers to contact insurers undercover as a “mystery shopper,” after European lawmakers demanded an expansion of its investigatory reach.

  • September 13, 2018

    Aerospace Industry Demands Insurance Talks With Brussels

    The U.K. aerospace industry has demanded negotiations with European Union officials about the future of travel insurance and aviation safety after Brexit, accusing the European Commission of blocking talks between airline regulators. 

  • September 12, 2018

    Transfer Pricing Draft Restricts Legit Insurers, OECD Told

    European insurers on Wednesday urged the Organisation for Economic Cooperation and Development not to stop major companies from legitimately using their own captive insurers in new transfer pricing guidance emerging from the organization's wider clampdown on tax avoidance.

  • September 12, 2018

    New York Tops London As World's Leading Financial Center

    New York has overtaken London as the world’s top financial center, according to a survey published Wednesday, which also revealed that several Asian cities are edging their way up the ranking for attractiveness and business-friendly regulation.

  • September 12, 2018

    UK Sees Wave Of Cyber Breach Reports After GDPR

    The U.K.’s data regulator is receiving around 500 calls a week to its hotline for reporting information breaches, nearly four months after Europe’s data protection regime went live in May, a senior official said Wednesday.

  • September 12, 2018

    Appliance Insurer Sues 2nd Rival For 'Poaching' Customers

    Domestic & General Insurance PLC has accused a second rival of malicious falsehood at London's High Court, claiming that it tried to poach customers by incorrectly telling them that D&G had gone out of business.

  • September 12, 2018

    EU Parliament Approves Rules To Tackle Criminal Financing

    The European Parliament announced on Wednesday that it has approved new measures aimed at making it harder for terrorists and criminals to finance their activities by closing loopholes in current European Union anti-money laundering rules.

  • September 12, 2018

    MEPs Propose Undercover Investigation Powers For EIOPA

    Europe’s top insurance regulator could be permitted to investigate companies undercover and record conversations in a sweeping expansion of its powers, under new legislative proposals before the European Parliament.

  • September 11, 2018

    FCA Sees High Demand For Regulatory Aid From Abroad

    The Financial Conduct Authority received more than a thousand requests for help over the last year from regulators and law enforcement agencies around the world to help combat cases of financial crime, the watchdog's chief executive revealed on Tuesday.

  • September 11, 2018

    QBE Seeks To Shift UK Contracts To Brussels Ahead Of Brexit

    The European unit of QBE Insurance Group has said it expects to win court approval to shift cross-border contracts out of Britain in December, amid fears that companies may break the law if they pay out to millions of policyholders after Brexit.

  • September 11, 2018

    BOE Chief Carney To Stay To 2020 As UK Faces Brexit Crunch

    Bank of England chief Mark Carney will serve an additional seven months as governor, staying until the end of January 2020 to help support the Brexit transition, the government and the central bank said Tuesday.

  • September 11, 2018

    Ex-SFO Head To Join Slaughter & May's Investigations Team

    The Serious Fraud Office's former director will join Slaughter and May as a senior consultant in October to counsel clients on regulatory investigations, the firm announced Tuesday.

  • September 11, 2018

    UK Demands Climate Change Transparency From Pension Schemes

    Pension schemes will soon be forced to shed greater light on the environmental impact of their investments, the U.K. government said Tuesday, in a regulatory move applauded by climate change activists.

  • September 11, 2018

    EU Watchdogs Warn Regulators To Plan For Brexit Contagion

    European regulators must gear up to prevent financial woes spreading between troubled securities, banking and insurance companies amid heightened risk from Brexit, three major financial watchdogs said Tuesday.

  • September 11, 2018

    DLA Piper Adds Insurance Disputes Partner In London

    DLA Piper has announced that it has snagged an international insurance and reinsurance partner with experience in multijurisdictional disputes from Reynolds Porter Chamberlain for its London office.

  • September 10, 2018

    Litigation Funder Vannin Capital Plans $91M IPO

    Litigation funder Vannin Capital on Monday unveiled plans to float on the London Stock Exchange in a £70 million ($91.2 million) initial public offering, the same day it announced that a former Allen & Overy LLP senior partner has joined the firm as its newest chairman.

  • September 10, 2018

    Pensions Regulator To Target Small, Poorly Run Schemes

    The Pensions Regulator warned on Monday that it will step up its scrutiny of smaller defined benefit schemes, accusing them of poor governance and questionable risk management.

Expert Analysis

  • Despite Brexit, Business As Usual For FCA

    Ben Ticehurst

    The U.K. Financial Conduct Authority has acknowledged that Brexit will present challenges, and will set aside some resources in preparation, but its business plan for 2018-2019 sends a strong message that there will be no let-up when it comes to detecting and prosecuting market abuse, says Ben Ticehurst of Rahman Ravelli Solicitors.

  • The Final Word On No Oral Modification Clauses In The UK

    Kathryn Rowe

    The U.K. Supreme Court's recent decision in Rock v. MWB came down on the side of commercial certainty, establishing that "no oral modification" clauses mean exactly what they say. Nonetheless, the decision may lead to some problematic cases, say Kathryn Rowe and Peter McMaster QC of Appleby Global.

  • EU's Proposed Premarketing Rules May Disrupt Fundraising

    John Young

    The European Commission's proposal to amend key European fund management directives introduces new conditions for premarketing a fund in the EU. Unless this proposal is substantially loosened, managers may risk increased regulatory scrutiny if they continue with current fundraising practices, says John Young of Ropes & Gray LLP.

  • UK Overseas Territories Disclosure Rule May Be Premature

    Ian Hargreaves

    Section 51 of the U.K.'s new Anti-Money Laundering Act imposes public beneficial company ownership registers in the British overseas territories. A general push for enhanced disclosure can only be welcomed, but this particular initiative may not be the correct means to reach a worthy goal, say Ian Hargreaves and Stephanie Sarzana of Covington & Burling LLP.

  • Myths And Facts About Using TAR Across Borders

    John Tredennick

    Many legal teams involved in cross-border matters still hesitate to use technology assisted review, questioning its ability to handle non-English document collections. However, with the proper expertise, modern TAR can be used with any language, including challenging Asian languages, say John Tredennick and David Sannar of Catalyst Repository Systems.

  • Predictions For UK Prudential Regulation Authority Standards

    Jamie Monck-Mason

    Two years after the U.K. Financial Conduct Authority acknowledged the threat cyberattacks pose to the U.K.'s financial system, little progress has been made. The Prudential Regulation Authority's new operating standards, expected to publish this year, must show that it is taking cybersecurity seriously, but without stifling innovation, says Jamie Monck-Mason of Willis Towers Watson.

  • Why Companies Should Be Grateful For The GDPR

    Howard Schiffman

    After the pain heals from what for many businesses was a last-minute scramble for General Data Protection Regulation compliance, many of these businesses will come to appreciate how the effort made them stronger from a compliance, security and even operational performance stance, say Howard Schiffman and Adam Cohen of Yeshiva University.

  • EU Law Brings Data Sharing Pointers For US Financial Cos.

    Erin Fonté

    Although data sharing via application programming interfaces is not mandated in the U.S. as it is in Europe under the new Revised Payment Services Directive, financial institutions that do not embrace it risk being left behind in terms of both technology and partnerships, say Erin Fonte and Brenna McGee of Dykema Gossett PLLC.

  • BigLaw Blogs In A Post-GDPR Marketing Universe

    Stephan Roussan

    Connecting with potential prospects is now more challenging due to the EU General Data Protection Regulation, meaning that law firm microsites, blogs and social media will become more valuable than ever. The firms that deploy them strategically will increase their relative visibility and accelerate the rebuilding of their opt-in distribution lists, says Stephan Roussan of ICVM Group.

  • FCA Enforcement Strategy May Influence Litigation Privilege

    Abdulali Jiwaji

    The U.K. Financial Conduct Authority's recently published annual business plan and mission statement indicate an uptick in enforcement activity. Alongside this, the past year has seen a number of interesting court decisions dealing with claims for litigation privilege, say Abdulali Jiwaji and Elliott Fellowes of Signature Litigation LLP.