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Insurance UK

  • 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.

  • November 16, 2017

    Insurer Faces High Court Claim Over Construction Bond

    A student property company regulated by the Financial Conduct Authority has filed a legal claim against HCC International Insurance Co. PLC at the High Court seeking a declaration that it is entitled to claim damages for losses suffered from a bond issued to a U.K. construction firm.

  • November 16, 2017

    UK Financial Lobby Pushes For Brexit Free Trade Deal

    One of Britain’s largest financial trade bodies made the case on Thursday for an "ambitious and credible" free trade agreement between the U.K. and the EU that would allow reciprocal cross-border market access for financial services after Brexit.

  • November 16, 2017

    Solvency Rules Make Insurers Think Long-Term, EIOPA Says

    European insurers are increasing their exposure to fixed-income securities with lower credit ratings and more illiquid investments such as nonlisted equities and loans, research published on Thursday by the European Union’s insurance watchdog found.

  • November 16, 2017

    EU Regulator Trains Sights On Fund Performance Fees

    Europe’s securities watchdog said Thursday it will probe the performance fees charged by asset managers amid growing concerns that some practices are too secretive, leading to excessively high costs for investors.

  • November 16, 2017

    Legal Hurdles Still Slowing Securitization Market, ECB Says

    Legal barriers stand in the way of a revival of Europe's "anemic" securitization market, including conflicting rules that make it difficult for insurers to play their part, a senior European Central Bank official said Thursday.

  • November 15, 2017

    FCA Official Vows To Tackle Complex Market Abuse Cases

    A Financial Conduct Authority official vowed Tuesday not to back away from vital "but inevitably complex" cases of market abuse as it steps up its technological systems to enforce new European rules taking a tougher approach to misconduct in the industry.

  • November 15, 2017

    US, UK Chug Along On Preliminary Trade Talks

    U.K. and U.S. trade officials said Wednesday that they’ve completed their second round of talks to further deepen trade ties between the two nations, with U.K. Secretary of State for International Trade Liam Fox saying they’re “laying the groundwork for a potential future free trade agreement.”

  • November 15, 2017

    Ignore Brexit Squabbles To Reform Capital Markets, EU Urged

    A top European capital markets industry group said Wednesday immediate, widespread reform of the bloc’s post-trade processing is vital and should not be depending on the outcomes of Brexit.

  • November 15, 2017

    EIOPA Clarifies Premiums For Insurers Under Solvency Rules

    Europe’s top insurance watchdog clarified a raft of technical reporting rules in the European Union’s complex solvency directive on Wednesday, outlining how insurance and reinsurance firms should value premiums.

  • November 15, 2017

    Injury Law Firm Calls Bid To Account For Fees 'Unreasonable'

    A law firm specializing in personal injury, clinical, medical and negligence claims has called “unreasonable” a demand that it account for as much as £1.8 million ($2.4 million) in allegedly unpaid medical report fees, according to court documents filed with the High Court in London last week.

  • November 15, 2017

    London's Future Hinges On Good Brexit Deal, City Firms Warn

    The U.K. will lose more than just tax revenue and jobs unless it strikes a special agreement with the European Union to help London’s banks and insurers continue trading across borders and influencing policy after Brexit, finance chiefs said on Wednesday.