Insurance UK

  • November 23, 2017

    Allianz Acts To Help Smaller UK Insurers After FCA Concerns

    Allianz Insurance PLC has unveiled new software to help brokers target underinsured clients after the Financial Conduct Authority warned that 40 percent of smaller British businesses may lack sufficient cover.

  • November 23, 2017

    British Watchdog Says Investors Want Better Risk Reporting

    Investors want improved disclosures from company boards about how they identify and manage risk to protect the sustainability of banks and businesses, according to a report released Thursday by Britain’s accounting and financial reporting watchdog.

  • November 23, 2017

    Financial Adviser Left 'Out Of Pocket' By Insurers' Dispute

    Lighthouse Group PLC, a financial adviser suing two insurers over their refusal to honor claims linked to the sale of unregulated investments, has said it “should not be left out of pocket” because the insurers cannot agree which firm is liable to indemnify the company.

  • November 23, 2017

    Transparency Concerns Taint Hedge Fund Risk Analysis In EU

    European regulators are improving their ability to measure risks to the global financial system posed by the murky multitrillion-dollar hedge fund industry, but major gaps still remain, an international securities watchdog said Thursday.

  • November 23, 2017

    UK To Boost Funding For Fintech Startups to Fuel Growth

    Financial technology startups are set for a big funding boost under U.K. government budget proposals to unlock £20 billion ($26.62 billion) for new technology over the next 10 years, providing new support for a fledgling industry already boosted by special regulatory programs.

  • November 23, 2017

    City Pushes UK Gov't To Shield Legal Sector From Brexit Hit

    An influential financial services lobby group said Thursday the government needs to do more to protect Britain's legal industry and urged it to set out plans to secure the sector’s access to European markets after Brexit.

  • November 23, 2017

    Clyde & Co Snags 2 Senior Partners To Launch Bristol Base

    Clyde & Co. LLP has hired two leading insurance dispute lawyers to launch a new office in the southwest city of Bristol in 2018, the London-headquartered firm announced on Thursday.

  • November 23, 2017

    UK Insurers Cheer Gov't Decision Not To Hike Premium Tax

    U.K. insurers expressed their relief on Thursday after Chancellor Philip Hammond revealed in his Budget that he was not raising insurance premium tax for a fourth time in two years.

  • November 22, 2017

    Aviva Sued For Allegedly Refusing To Transfer £212K Pension

    Insurer Aviva Life and Pensions UK Ltd. is being sued for allegedly refusing a customer’s request to transfer a £212,000 ($282,193) pension plan held with the insurer to an occupational pension scheme on the grounds it thought the customer’s pension would be at risk, according to a claim filed with the High Court in London.

  • November 22, 2017

    EU Pension Plan Like 'Octagonal Rubik's Cube,' MEP Says

    Developing the pan-European pension product is like “trying to solve an octagonal Rubik’s Cube,” a European Parliament rapporteur admitted on Wednesday, urging policymakers to keep proposals as simple as possible.

  • November 22, 2017

    UK Promises Tough Paradise Papers Response In Budget

    Britain’s Treasury promised new measures to tackle tax dodging on Wednesday in its budget statement and is set to bolster enforcement following a string of leaks that highlight how the U.K. is a major conduit for tax evasion.

  • November 22, 2017

    France Seeks Local Control Of EU Insurance Capital Buffers

    France's central bank governor urged a European Union watchdog on Wednesday to allow national regulators to continue approving the capital buffers that insurers must hold to meet the bloc's solvency requirements.

  • November 22, 2017

    Insurers Eager For Pan-European Pension, EIOPA Says

    Insurers and asset managers are developing new products in the expectation that the European Union's ambitious pan-European pension project could soon become reality, the bloc's top insurance regulator said Wednesday.

  • 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.

Expert Analysis

  • 6 Ways Teaching A Law School Class Can Benefit Lawyers

    Steven Allison

    Though teaching a law school class may be one of the last things on a busy practitioner's to-do list, it's a misconception that teaching will benefit only those who are looking to leave the practice of law and enter academia. It also offers several practical benefits, especially for more junior lawyers looking for stand-up experience, say Steven Allison and Samrah Mahmoud of Crowell & Moring LLP.

  • US Law Firms Face Discovery Of Foreign Clients' Records

    Steven Kobre

    The law relating to the taking of discovery directly from U.S. law firms is evolving in favor of disclosure when documents have been provided to third parties. Law firms must be vigilant in handling their clients' documents or face being responsible for producing them to third parties, say Steven Kobre and John Han of Kobre & Kim LLP.

  • Rules Of The Road For Accessing Capital In Europe

    Peter Astleford

    Despite the advances of the European single market, there remains a confusing combination of EU and nation-specific rules governing the sale of fund products in Europe. Attorneys with Dechert LLP answer some commonly asked questions and explain how to sell alternative investment funds in the European Economic Area.

  • An Interview With Floyd Abrams

    Randy Maniloff

    It was a privilege to spend a half-hour on the phone with the nation's foremost First Amendment lawyer. Floyd Abrams and I discussed his career, his new book and what he sees in his free-speech crystal ball. And he was a very good sport when I asked if it is constitutionally protected to yell inside a movie theater: “Citizens United is a terrible decision and should be set on fire,” says Randy Maniloff of White and Williams LLP.

  • The UK's New Suspicious Activity Reporting Regime: Part 2

    Neil Gerrard

    Under the U.K. Criminal Finances Act 2017, the procedures for reporting suspicious financial activity have changed. Law firms, accounting firms and banks must now take on a more active role in identifying sources of information relevant to determining whether a money laundering offense has taken place, and must respond to information requests from other regulated firms, say attorneys with Dechert LLP.

  • A Resurgence Of Synthetic Securitizations

    Daniel Budofsky

    After a major market contraction in the wake of the financial crisis, risk-pooling transactions show signs of gaining favor once more, says Daniel Budofsky of Pillsbury Winthrop Shaw Pittman LLP.

  • Tips For Securing Antitrust Clearance Around The World

    Rebecca Nelson

    Early attention to the antitrust considerations of a given transaction can go a long way toward promoting the chances of a timely or early clearance. However, promoting a speedy and efficient review in the EU requires different procedures compared to when a U.S. filing is needed, say attorneys with Bryan Cave LLP.

  • The Challenges Of Insurance Arbitration In Foreign Forums

    Luke Debevec

    Differences in law, practice and procedure between the U.S. and U.K. legal systems require policyholders and their captives to carefully consider the applicable law and forum for resolving disputes before entering into an insurance or reinsurance policy or contract containing an international arbitration agreement, say attorneys with Reed Smith LLP.

  • Tips For Complying With ABA’s New Encryption Guidance

    Nick Holda

    Last month, the American Bar Association published revised guidance regarding an attorney’s duty to protect sensitive client material in light of recent high-profile hacks. The first step in compliance is understanding how your data is being stored and accessed. There are three key questions you should ask your firm’s information technology staff and/or external solution vendors, says Nick Holda of PreVeil.

  • British Airways' Pensions Saga Is Flying Under The Radar

    Rosalind Connor

    While most of the world is talking about the IT problem that grounded British Airways planes, pension lawyers have been discussing British Airways v. Airway Pension Scheme Trustees, and the danger of leaving the power to direct scheme benefits in the hands of someone who does not have to pay for it, says Rosalind Connor of ARC Pensions Law.