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Insurance UK

  • October 19, 2017

    London Bucks Brexit Fears With Near-Record Fintech Funding

    Financial technology startups in Britain are on track for a record year of investment, new figures show Thursday, giving the sector a welcome boost amid the uncertainty generated by Brexit.

  • October 19, 2017

    Lloyd's Insurers Urged To Avoid Courts To Dodge Brexit Mess

    Lloyd’s of London insurers should consider shifting toward out-of-court arbitration to avoid clashes over which tribunal should decide legal disputes after Brexit, their trade organization said Thursday.

  • October 19, 2017

    UK Lawmakers Probe City's Progress In Boosting Diversity

    A U.K. parliamentary committee on Thursday announced plans to measure the success of a government-backed campaign implemented last year to boost the number of women in senior roles at banks, insurers and other financial services.

  • October 19, 2017

    UK Insurance Bill Could Pave The Way For Driverless Cars

    The U.K. government has reintroduced draft legislation to extend compulsory motor insurance to driverless cars, proposing a legal framework that could pave the way for the vehicles hailed by analysts for their potential to reduce risk behind the wheel.

  • October 19, 2017

    EU Panel Eyes Stronger Sanctions For Flouting AML, Tax Laws

    A European parliamentary committee has signed off the final report of its 18-month inquiry into the Panama Papers leaks, revealing Wednesday that it found that some member states had "bent and ... outright broken" anti-money laundering and tax laws, and calling for stiffer fines for banks and others that breach those laws

  • October 18, 2017

    Insurer Aon Launches Cyberattack Shield For Pension Data

    Aon PLC has developed a cyber resilient framework for pension schemes, sponsors and advisers to help them manage cyberrisk and minimize any economic or legal fallout in the event of an attack, the London-headquartered insurance brokerage announced Tuesday.

  • October 18, 2017

    PRA Guides Insurers On Reporting Exposure To Risk

    The U.K. Prudential Regulation Authority on Wednesday guided the country’s most risk-exposed insurers about how to report sensitivities around their solvency positions to the regulator twice a year.

  • October 18, 2017

    UK Judge Denies £2M Finder's Fee For Hotelier's Refinancing

    The High Court in London has ruled that a hotel operator doesn’t owe £2 million ($2.6 million) to a financial services company for introducing it to a U.S. insurer that helped the hotelier refinance its debt.

  • October 18, 2017

    Headhunters Join Insurers To Fight Data Rules, Report Says

    British executive recruitment firms could align themselves with the country's insurance sector to oppose new European data protection laws that prevent companies from storing personal information, according to a report issued Wednesday.

  • October 18, 2017

    UK Watchdog Challenges Building Insurance Monopoly

    ​The U.K.’s antitrust watchdog announced plans Wednesday to introduce new rules to challenge a near-monopoly in insurance for defects in new buildings, which a single body provides for around 80 percent of new homes.

  • October 18, 2017

    EU Agencies Get 1 Year For Retail Investment Products Study

    Europe’s top supervisory authorities have been given a year to report back to the European Commission on a large-scale study of the costs and previous performance of retail investment, insurance and pension products as it seeks to speed up completion of its capital markets union project.

  • October 17, 2017

    EU Lawmakers Vote To Delay Major Insurance Reforms

    European lawmakers have urged the European Commission to postpone the application of its new insurance regime from February until next October, a parliamentary spokeswoman said Tuesday.

  • October 17, 2017

    Hang Up On Cold Callers, Pensions Agency Tells Consumers

    The U.K.'s pensions regulator has urged savers to hang up immediately on cold callers as it launched a campaign to prevent criminals from exploiting new pensions freedoms.

  • October 17, 2017

    Cross-Border Financial Contracts At Risk, BOE's Carney Says

    Bank of England Governor Mark Carney said Tuesday that trillions of dollars in cross-border financial contracts could end up in a legal vacuum if Britain leaves the European Union without a transition period, as he identified derivatives, insurance contracts and data sharing as areas of concern.

  • October 17, 2017

    Adviser Allegedly Misled Over Value Of Acquired Business

    A financial services trade consultancy is being sued by the founder of an insurance broker it bought in 2004 over allegations that a bonus payment linked to the value of the business it acquired was based on misleading information which undervalued the intermediary by around £700,000 ($923,400).

  • October 17, 2017

    Pensions Regulator Powerless Over Tata Merger, MP Fears

    The head of a parliamentary committee has warned that The Pensions Regulator may be powerless to help 130,000 members of a steel workers’ savings scheme in the face of a giant pan-European merger.

  • October 16, 2017

    FCA Launches Hub For Asset Managers' Approval Process

    The Financial Conduct Authority on Monday launched the first phase of an online center designed to help asset management companies apply for authorization in the U.K., as part of wider plans to encourage competition in the sector and make information easier to access.

  • October 16, 2017

    MPs Challenge Regulator Over Trinity Mirror Buyout Plans

    Lawmakers have challenged the U.K. pensions regulator over plans by media giant Trinity Mirror PLC, which runs a £336 million ($446 million) pension deficit, to buy a rival publisher with its own £19 million shortfall.   

  • October 16, 2017

    Businesses Unprepared For Tough Data Regs, Aon Warns

    Fewer than a third of businesses in Europe, Africa and the Middle East fully understand the consequences that demanding new information rules from Brussels will bring in May, new data showed on Monday.

  • October 16, 2017

    Just 1 In 4 Risk Managers Reports Cyberbreach, Chubb Says

    More than a quarter of senior risk and information technology managers say their firms have been hacked or suffered a cyber incident in the last year, Chubb Ltd. said Monday.