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Insurance UK

  • September 3, 2018

    New SFO Chief Sees Bigger Enforcement Role For Technology

    The Serious Fraud Office’s new chief said Monday that the agency under her five-year tenure will take a more proactive, cross-border approach to bringing sophisticated criminals to justice, including by using technology more effectively.

  • September 3, 2018

    MPs To Scrutinize Pension Fees Amid Concern Over Reforms

    Politicians will begin taking evidence on Wednesday about whether pension scheme managers are sufficiently open about their charges and the performance of their funds, as increasing numbers of savers transfer their nest eggs under Britain’s controversial retirement freedoms.

  • August 31, 2018

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

    The last week has seen AIG, Swiss Re and several Lloyd's syndicates lodge a shipping claim against Maersk, more retailer claims against Visa and Mastercard, and a new application involving the Libyan Investment Authority. Here, Law360 looks at those and other new claims in the U.K.

  • August 31, 2018

    Polsinelli Gains EU Privacy Expert As Shareholder

    Polsinelli PC has added a former Holland & Hart LLP partner who brings years of experience advising companies on privacy issues in both the U.S. and the U.K. and a deep understanding of European privacy laws and their impact on multinational businesses.

  • August 31, 2018

    Allianz Swerves Sports-Car Garage Suit As 'Lie' Claim Stalls

    Allianz Insurance can avoid a claim for approximately £580,000 ($752,000) in losses resulting from a fire at a sports car garage, a Scottish appeal court has ruled, as it rejected arguments by the owner of the business that lies about the cause of the fire did not entitle the insurer to refuse to cover the loss.

  • August 31, 2018

    Lloyd's Allows Underwriters To Insure Cannabis In Canada

    Lloyd’s of London syndicates will soon be able to underwrite cannabis-related business in Canada without breaching Britain’s anti-money laundering laws — but they must be vigilant about policyholders moving the drug into the U.S, the specialty insurance market has said.

  • August 31, 2018

    9 In 10 Britons Back 'Whiplash' Claim Reform, Insurers Say

    The British public overwhelmingly backs government plans to clamp down on fraudulent claims for whiplash injury, the Association of British Insurers said on Friday, as it sought to outmaneuver claimant lawyers in its battle over motor insurance reforms.

  • August 30, 2018

    5th Circ. Nixes Appeal In Coverage Row Over $60M Ship Crash

    The Fifth Circuit on Wednesday tossed three oil companies’ appeal of a Louisiana federal court’s decision capping the potential liability of Cenac Marine Services LLC’s excess insurers for a 2016 ship accident that resulted in $60 million worth of damage, saying the lower court’s order was not ripe for appellate review.

  • August 30, 2018

    Loyal Insurance Customers Pay More, Research Finds

    Thousands of loyal home insurance customers are being penalized with price hikes that mean they are paying “excessive” premiums, a consumer group has warned amid concerns by the Financial Conduct Authority that companies are overcharging longer-term policyholders.

  • August 30, 2018

    Singapore Chambers Nabs Baker McKenzie Arbitration Head

    Essex Court Chambers Duxton in Singapore has snapped up the former head of Baker McKenzie Wong & Leow's international arbitration practice, an experienced attorney and university lecturer with a background in maritime law, international trade and insurance.

  • August 30, 2018

    AXA UK Faulted Over Builder's 'Negligent' Tennis Court Work

    French insurer AXA has served up a suit at a London court against its U.K. arm on behalf of a British construction company as it seeks approximately £1.1 million ($1.4 million) over damage allegedly caused to a tennis court at a venue that hosts a top-level women’s tournament.

  • August 30, 2018

    Millions To Lose If Pensions 'Portal' Binned, Activists Say

    Ten million people will lose more than than £15,000 ($19,500) each if the U.K. abandons plans to set up a website for workers to track their retirement savings, a campaign group warned on Thursday, as pressure builds on the government to save the threatened project.

  • August 30, 2018

    Expats Warned Of Pensions Upheaval Risk After Brexit

    Nearly two million British expatriates living in the European Union should make sure their pensions and other financial arrangements will be able to withstand regulatory upheaval and a crash in sterling if there is a "no-deal" Brexit, a major consultancy company warned on Thursday.

  • August 29, 2018

    Insurers Back Cargo Owner's UK Marine Shipping Loss Suit

    Steel coil producer Acciaieria Arvedi SpA and Italian insurers Itas Mutua and Società Reale Mutua di Assicurazioni are suing Pretty Bright Shipping in the U.K. over alleged damage caused to a cargo of steel coils while in transit in January 2015.

  • August 29, 2018

    Infrastructure Capital Rules May Stymie Investment, Insurers Say

    A federation of European national insurance associations said Wednesday that Europe's Solvency II capital regime places an "extensive and resource-intensive" burden on insurers that want to invest in infrastructure finance by requiring them to evaluate whether these assets qualify for tailored supervision, which may deter them from investing in these longer-term products.

  • August 29, 2018

    Shipper Sues Major Insurers Over Explosion On Boat

    Insurance giants Royal & Sun Alliance and a unit of AXA SA are facing a $415,000 lawsuit after an engine exploded on a ship, halting its delivery of 6,000 tonnes of timber to southern India, according to documents filed at the High Court in London.

  • August 29, 2018

    Regulator Warns Pension Schemes About Risky Transfers

    The pensions regulator has urged the U.K.'s defined benefit retirement funds to warn members about the risk of transferring their money into less generous schemes, as it steps up efforts to protect savers using Britain’s controversial retirement investment freedoms.

  • August 29, 2018

    Insurance Broker Fights ‘Onerous’ Cancellation Policy Claim

    London-based broker Miles Smith has said in the latest round of a court battle that an insurance broker it is suing for breach of contract cannot fight the claim by arguing that a cancellation clause in its client’s policy was unusual or excessively onerous, because the terms are commonly used in the industry.

  • August 28, 2018

    EU Should Link Trade Pacts To Fair Tax Practices, Report Says

    The European Union should link future trade deals to compliance with international tax practices, a paper from a prominent Brussels think tank said Tuesday.

  • August 28, 2018

    Ex-Claims Manager Sentenced Over Fraud To Pay Debts

    A man who admitted to defrauding three insurance claims management companies and their clients to pay debts he had accumulated on multiple holidays to Disney World has been sentenced to 26 months in prison, the City of London Police said Tuesday.

Expert Analysis

  • Issues To Watch For When Brexit-Proofing Your Contracts

    Dipti Hunter

    While a great deal of uncertainty remains around Brexit, there will be challenges for all contractual parties in the U.K. and the EU as they approach existing and future contractual obligations, say Dipti Hunter and Kirsty O'Connor of PricewaterhouseCoopers LLP.

  • Identifying Cybersecurity Best Practices For Financial Firms

    Rishi Zutshi

    As financial services and fintech firms seek to reduce their vulnerability to cyberattacks and mitigate against regulatory and litigation exposure, one key inquiry is the extent to which a company’s cybersecurity controls are consistent with industry best practices. In this regard, a recent report from the World Economic Forum provides a valuable reference point, say Rishi Zutshi and April Collaku of Cleary Gottlieb Steen & Hamilton LLP.

  • You’re Perfect, Now Change: Perfectionism Hurts Lawyers

    Peter Norman

    Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.

  • UK Policyholders Must Beware Pre-Brexit Policy Transfers

    Richard Mattick

    Recent disclosures by U.K. insurance regulators have highlighted the possibility of an imminent flood of applications by U.K. insurers to English courts to transfer their policies to their EU-based affiliates. Policyholders affected by these transfers will need to scrutinize them closely, says Richard Mattick of Covington & Burling LLP.

  • Consider The Impact Of Carillion's Decline And Fall

    Lance Ashworth

    In the long term, Carillion PLC's collapse has added to the growing demand for increased regulation and scrutiny of company directors fueled by the failure of British Home Stores. The U.K. government has promised to introduce new sanctions for company directors who put their employees' pensions at risk, say Lance Ashworth, QC, and Zahler Bryan of Serle Court Chambers.

  • Why Machine Learning Should Matter To Lawyers

    Dan Puterbaugh

    Legal leaders who want to meet their clients' expanding expectations should start moving their documents to future-ready document management solutions now if they want to stay competitive in the next few years, says Dan Puterbaugh of Adobe Systems Inc.

  • The Volkswagen Scandal: Catalyst For Class Action Change?

    Noah Wortman

    The sheer scale and global nature of the Volkswagen diesel emissions scandal has led to discussions about how such high-volume consumer cases are handled, with some commentators suggesting that the case represents a turning point in how class action litigation is viewed and handled, particularly in Europe, say Noah Wortman, global head of class action services at Goal Group, and attorneys with Hausfeld LLP.

  • Cyber Incident Transparency Can Assist Cyber Insurance

    Neil Warlow

    In a recent report, the Organisation for Economic Co-operation and Development considered whether cyber insurance can operate as a driving force in improving cyber risk management generally. Making detailed information on cyber incidents available would help cyber insurance function as a critical risk resilience tool, say Neil Warlow and Sarah Stephens of JLT Specialty Limited.

  • A Look At US And EU Fintech Regulatory Frameworks

    Brian Christiansen

    The regulatory fragmentation on the federal level, and at the U.S. state and EU member state levels, presents challenges and uncertainty for many fintech companies. The resolution of these uncertainties will directly impact the evolution of this sector, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • How Emerging Sources Of ESI Will Impact Discovery

    Charles McGee

    Late last year, the Sedona Conference released the third edition of its principles addressing electronic document production, updated to account for innovations like Snapchat and Twitter. It may be necessary for these principles to be updated more often in order to keep pace with technology, says Charles McGee III of Murphy & McGonigle PC.