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Insurance UK

  • November 22, 2017

    EIOPA Tells Insurers To Brace For Worst-Case Brexit

    The chairman of the European Insurance and Occupational Pensions Authority on Wednesday urged firms to consider “all possible solutions” to help them lessen the risks that they will face if Britain crashes out of the European Union without a trade deal in place.

  • November 21, 2017

    UK Charity Insurer Pushes For Sector's Insurance Tax Break

    U.K. Chancellor Philip Hammond faced pressure on Tuesday to exempt charities from paying insurance premium tax when he announces Wednesday’s budget, with key organizations including a charity insurer saying they are battling financial strain as it is.

  • November 21, 2017

    Slap £10M Fines On Big Accounting Firms, Watchdog Urged

    Britain’s accounting watchdog could start levying fines of more than £10 million ($13.2 million) on the Big Four professional services firms under recommendations published Tuesday, more than double the highest penalty it has handed out so far.

  • November 21, 2017

    Be Alert For Money Laundering, Watchdog Tells UK Law Firms

    The legal profession remains a high risk for money laundering, with phony investment schemes one of the biggest dangers, the regulatory body for solicitors in England and Wales warned on Tuesday.

  • November 21, 2017

    EU Securities Regulator Clarifies Insider Trading Laws

    Europe’s securities watchdog moved Tuesday to clear up confusion in the financial sector about insider trading laws governing transactions made by senior staff and trading carried out by their firm as it is prepares to announce its results.

  • November 21, 2017

    Motor Insurers To Save Billions If Key Reforms Pass, EY Says

    U.K. motor insurers could save up to £2.5 billion ($3.3 billion) next year if widely anticipated changes to compensation calculators are made and reforms to clamp down on spurious accident claims are passed, Ernst & Young said Monday.

  • November 21, 2017

    Sompo International Picks Luxembourg To Beat Brexit

    A Bermuda-based speciality insurer has revealed it is to set up a new headquarters in Luxembourg to allow it to continue serving European clients beyond Brexit in March 2019.

  • November 20, 2017

    Insurer Announces Dublin Office To Avoid Brexit Disruption

    The North Group and its subsidiary Sunderland Marine on Monday became the latest insurers to announce plans to open a unit in Dublin to allow them to sidestep any upheaval after Brexit in March 2019.

  • November 20, 2017

    Clyde & Co. Expands Into Malaysia With New Partnership

    London-headquartered law firm Clyde & Co. LLP said on Monday that it has joined forces with a Malaysian counterpart to work together on insurance, energy and transportation matters across national borders.

  • November 20, 2017

    EU's Barnier Shuts Door On Post-Brexit Passporting For City

    Britain’s banks and insurance firms will lose their right to passport services into the EU “as a legal consequence of Brexit,” the European Union’s lead negotiator said on Monday, as he appeared to dismiss any chance of a special deal for London’s financial sector.

  • November 20, 2017

    MPs Want Pensions, Other Contract Rights For Uber Workers

    Two parliamentary committees urged the U.K. government on Monday to extend greater employment rights to members of the so-called gig economy, which could force giants such as Uber and Deliveroo to enroll workers onto pension insurance plans.

  • November 20, 2017

    Insurers Urge UK Gov't Not To Raise Premium Tax In Budget

    The U.K. insurance industry urged Chancellor Philip Hammond on Monday not to raise insurance premium tax when he announces the Budget on Wednesday, saying another hike in the rate would be “horribly unfair.” 

  • November 20, 2017

    Compliance Is Key For UK Firms Eyeing Fintechs, Report Says

    Financial services firms and new technology startups hoping for a successful partnership will need to tackle legal and compliance issues before they can get off the ground, according to a report released Monday highlighting the common pitfalls and legal traps that can undo such partnerships at an early stage.

  • November 17, 2017

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

    The last week has seen a consulting firm sue the shareholder rights group that challenged the Royal Bank of Scotland, Lehman Brothers' bankrupt European unit take on HMRC, and three reinsurers lodge a claim against Petroleos de Venezuela's captive insurer. Here, Law360 looks at those and other new claims in the U.K.

  • November 17, 2017

    City Firms Warned Of Supply Chain Cyber Dangers

    The Financial Conduct Authority warned banks and insurance firms on Friday that they will still face regulatory punishment for cybersecurity failures in their supply chain and that outsourcing compliance is not a credible defense.

  • November 17, 2017

    Protect Vulnerable Long-Term Savers, UK Insurers Told

    The U.K.’s top insurance trade body recommended Friday that insurers should set up internal policies by January to help them identify and support vulnerable customers in the long-term savings market.

  • November 17, 2017

    FRC To Eye Reports From Banks, Insurers After Finding Gaps​

    The U.K. Financial Reporting Council announced on Friday that it will review the corporate reporting of financial firms over the next two years, focusing on the effects of Brexit and new standards that come into force in the new year.

  • November 17, 2017

    UK Brexit Chief Says Germany, France Stymying Trade Deal

    U.K. Brexit negotiator David Davis denied on Friday that Britain is being inflexible in talks, blaming Germany and France for blocking progress in efforts to seal a future free-trade agreement between it and the European Union.

  • November 17, 2017

    ESMA Sets Out Plan For Managing Derivative Positions Risks

    The European Securities and Markets Authority revealed proposals on Friday for how commercial firms should calculate future derivative positions under incoming EU trading laws as it attempts to shore up stability in trading.

  • November 16, 2017

    Lawmaker Pushes UK Gov't To Freeze Insurance Premium Tax

    A British lawmaker tabled a motion on Wednesday calling for a debate in the House of Commons on a freeze in U.K. insurance premium tax ahead of next week’s government review of the country’s finances.