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Insurance UK

  • December 5, 2018

    FSCS Extends Suit Against Trustee Over Failed Resort

    The Financial Services Compensation Scheme has filed a fresh suit against a Guernsey-based trustee in London’s High Court as part of efforts to reclaim cash the fund paid out to investors who lost their savings in a failed holiday resort project on the Caribbean island of St. Lucia.

  • December 5, 2018

    No Need For Mandatory Pensions Disclosure, Lawmakers Told

    Pension fund trustees should not be compelled to provide new disclosure templates to help investment managers looking to compare the cost of funds, a pensions expert told a parliamentary committee Wednesday.

  • December 5, 2018

    Banks, Insurers Want Safeguards On Consumer Class Actions

    More than a dozen trade bodies, including those representing Europe's insurers and bankers, raised concerns on Wednesday that European Commission proposals introducing a harmonized framework for class actions across the bloc may lead to a surge in "unnecessary and wasteful" litigation cases for businesses.

  • December 5, 2018

    Don't Approach Clients, Court Orders Insurer In Poaching Suit

    A home appliance insurer being sued by Domestic & General Insurance PLC for allegedly trying to poach its customers has been hit with an injunction barring it from approaching potential clients with offers to renew their warranties.

  • December 5, 2018

    Brexit Pushes BoE To Delay Cyber Stress-Test Plans

    The Bank of England has agreed to delay work on its first test of how banks respond to cyberattacks and IT failures to allow them to focus on preparing for Brexit, records published Wednesday reveal.

  • December 5, 2018

    Insurer Wins UK Court Nod To Transfer Policies To EU

    RSA Insurance Group PLC said it has gained approval at a court in London to transfer European policies written in its U.K. subsidiary to its newly established hub in Luxembourg as it prepares to avoid Brexit disruption.

  • December 4, 2018

    $8.4M Harvey Claim Must Be Arbitrated, Insurers Tell Court

    Insurers and underwriters facing a lawsuit over their limitation of payment on an $8.4 million Hurricane Harvey-related insurance claim want the suit in arbitration, they told a Texas federal court Monday.

  • December 4, 2018

    BT Loses Appeal Over Pension Calculations Change

    BT Telecommunications PLC lost its appeal on Tuesday seeking to change the way it will increase future annual payouts to more than 80,000 members of its pension plan, after three appellate judges sided with a lower court's assessment that the scheme's rules do not allow for the switch.

  • December 4, 2018

    FCA Records Flood Of Inquiries About Pension Scams

    The number of inquiries about pensions fraud leaped fivefold after two U.K. regulators launched a joint campaign to raise awareness of the problem, the Financial Conduct Authority said Tuesday.

  • December 4, 2018

    EU Ministers Approve Rules To Protect Failing Banks

    The European Council said on Tuesday that the bloc’s finance ministers have approved a package of rules aimed at protecting the banking sector, including measures to strengthen the Eurozone’s bailout fund and setting up an insurance fund for winding down failing banks.

  • December 4, 2018

    UK Can Unilaterally Reverse Brexit, ECJ Adviser Says

    Britain can unilaterally revoke its decision to withdraw from the European Union before the end of the exit agreement with no conditions, a senior legal adviser at the EU's highest court concluded on Tuesday.

  • December 3, 2018

    UK Supreme Court To Hear Deepwater Horizon Arbitrator Appeal

    The U.K. Supreme Court has agreed to hear an appeal challenging a determination that insurer Chubb can retain its arbitrator pick in a multimillion dollar dispute with U.S. oil services company Halliburton relating to the Deepwater Horizon disaster, a court spokesperson confirmed Monday.

  • December 3, 2018

    FCA's Bailey Denies Political Pressure Over Brexit Letters

    Andrew Bailey, the chief executive of the Financial Conduct Authority, on Monday denied claims that the watchdog had come under government pressure to warn banks to slow down the pace of their Brexit relocation plans.

  • December 3, 2018

    Manx Fights Attempt By Funds To Dodge RBS Litigation Costs

    A firm that represents Royal Bank of Scotland shareholders who struck a £200 million settlement with the bank over its rights issue has said a group of institutional investors cannot use the alleged negligence of the company that originally managed the claim to avoid financing the litigation.

  • December 3, 2018

    UK Government Sets Out 'Pensions Dashboard' Plans

    The U.K. government said Monday it is prepared to legislate to force pension scheme providers to participate in its pensions dashboard project, designed to help savers keep track of their retirement investments.

  • December 3, 2018

    Water Co. Agrees To Pay £50M To Fill Pension Scheme Gap

    Southern Water will pay an additional £50 million into its pension scheme in a shorter time than the utility company had planned for to help it plug a deficit of more than £250 million ($318 million), the U.K.’s pensions regulator said.

  • December 3, 2018

    ECB Takes ‘Meet Or Explain’ Stance On Cybersecurity Rules

    The European Central Bank told companies that process and settle payments on Monday that they must meet its regulatory expectations on cybersecurity or explain why they are not doing so, as businesses in the sector complain that the measures are too demanding.

  • November 30, 2018

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

    The last week has seen HSBC's private bank unit hit with an action from nearly 250 claimants, Dutch bank ABN Amro sue more than a dozen insurers and Aviva's health unit take on the Saudi Arabian embassy and government. Here, Law360 looks at those and other new claims in the U.K.

  • November 30, 2018

    $1.4M Church Damage Claim Must Be Arbitrated, Insurer Says

    A New Orleans church that sustained $1.4 million in damage during a devastating 2017 tornado must arbitrate claims that a German insurer and a group of Lloyd's of London underwriters wrongly denied the church's insurance claim, the insurer and underwriters told a Louisiana federal court Thursday.

  • November 30, 2018

    UK Agencies Monitor Insurer's Liquidation After Deal Dispute

    British and Irish authorities have vowed to keep a close eye on the fate of Qudos Insurance A/S as it goes through voluntary liquidation amid claims that its previous ownership over lied about the Danish insurer's solvency ratio.

Expert Analysis

  • UK Employees May Soon Gain The 'Right To Disconnect'

    Sarah King

    Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

    Melanie Green

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • UK's Proposed Investment Scrutiny Powers Are Far-Reaching

    Douglas Lahnborg

    The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.

  • Relief For Cos. Conducting UK Internal Investigations

    Simon Airey

    After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.

  • Breaking Down The UK's Revised Corporate Governance Code

    Joseph Ferraro

    Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

    Rodney Smolla

    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • When To Use Options Analysis In Damages Assessments

    Ronnie Barnes

    In both the U.K. and abroad, the discounted cash flow methodology is often considered the "go to" valuation approach when conducting a damages assessment. However, DCF is not always appropriate and damages experts should know when to use the option analysis methodology instead, says Ronnie Barnes of Cornerstone Research Inc.

  • Opinion

    UK 'Unexplained Wealth Orders' Will Discourage Investors

    Simon Bushell

    The United Kingdom has taken the unusual step of introducing significant retrospective powers that could unravel acquisitions and transactions from decades ago. The government's intentions are laudable, but its new "unexplained wealth orders" cast doubts on the U.K.'s appetite for foreign investment and may hurt national interests, says Simon Bushell of Signature Litigation LLP.

  • Brexit: Bracing For A No-Deal Scenario

    Ross Denton

    Once considered the “cliff edge,” the possibility of the United Kingdom exiting from the European Union without agreeing on a trade deal has moved from unthinkable to increasingly likely. Both sides are ramping up preparations for a no-deal scenario, which would have significant implications for businesses in all sectors, say attorneys with Baker McKenzie LLP.

  • Considering Contract Termination Under English Common Law

    John Laird

    The U.K. High Court Commercial Division's recent decision in Phones 4U v. EE is a reminder of the care with which contracting parties should consider their rights when their English law contracts appear to be failing, says John Laird of Crowell & Moring LLP.