Insurance UK

  • April 20, 2018

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

    The last week has seen a contract dispute erupt between Russia's Sberbank and a fellow state-controlled bank in Azerbaijan, Greece's Alpha Bank sue more than a dozen Lloyd's syndicates, and underwriters and Lit Securities take on Morgan Stanley.

  • April 20, 2018

    Insurers' $132.5M Clawback Denial Upheld In Calif. Rail Crash

    Lloyd's of London and other insurers can’t claw back $132.5 million they spent settling claims after the deadly Chatsworth train accident, a California state appeals court has ruled, affirming a lower court’s decision that found an exclusion didn’t apply because the crash wasn’t a strictly “intentional act.”

  • April 20, 2018

    Water Regulator Says It Cannot Protect Retirement Funds

    Britain’s water industry watchdog has said it is powerless to regulate the retirement funds of industry monopolies after a senior lawmaker accused two utilities firms of putting shareholders before their own pension scheme members.

  • April 20, 2018

    Global Watchdog Provides Tools To Stamp Out Misconduct

    The financial watchdog for the G-20 group of countries unveiled a new toolkit on Friday that firms and ‎regulators can use to combat misconduct that has damaged public trust in financial services.

  • April 20, 2018

    UK Regulator To Ease Reporting Burden For General Insurers

    U.K. nonlife insurers will find their reporting duties are relaxed under Europe’s Solvency II directive through plans unveiled by the Prudential Regulation Authority on Friday as the watchdog attempts to soften the unpopular capital regime.

  • April 20, 2018

    SFO Gets Funding Boost To Ease ‘Blockbuster’ Demands

    The U.K.’s Serious Fraud Office has announced a funding boost from the government that will help the watchdog to investigate major financial crime cases without having to rely on “blockbuster" funding.

  • April 20, 2018

    Irish Firms Press For New Insurance Fraud Police Squad

    An Irish lobby group has urged the country's government to swiftly establish a specialist police unit to fight insurance fraud as part of its wider demands for help in bringing down “crippling” business premiums.

  • April 19, 2018

    EU Investment Treaty Ruling May Extend Beyond Bloc

    A decision issued last month by Europe's top court concluding that an arbitration clause in a Dutch-Slovak investment treaty is incompatible with European Union law may also apply to agreements between the bloc or its member states and third countries, according to a Thursday report.

  • April 19, 2018

    AIG Sets Up Firms In Luxembourg, UK To Beat Brexit

    American International Group Inc. said Thursday it has established two new insurance firms in the U.K. and Luxembourg to minimize business disruption when Britain leaves the European Union.

  • April 19, 2018

    Hard Brexit Would Hit EU Finance Sector, BOE Chief Says

    The “first and most obvious” challenge for the European economy is Brexit, a Bank of England chief said Thursday, warning that if the U.K. crashed out of the European Union without a deal it would disrupt the financial services and insurance sectors across the Channel.

  • April 19, 2018

    Chubb Wins UK Appeal To Keep Arbitrator In Deepwater Case

    A London appeals court ruled on Thursday that insurer Chubb could keep its arbitrator in a dispute with U.S. oil services corporation Halliburton over hundreds of millions of dollars following the 2010 explosion on the Deepwater Horizon rig.

  • April 19, 2018

    EIOPA Looks To Boost Cross-Border Insurance Oversight

    Europe’s top insurance regulator has said in a review of its oversight activities that it will focus on strengthening the European Union’s insurance sector by boosting cross-border cooperation between the bloc’s national supervisors.

  • April 19, 2018

    UK Fintech Surging Despite Brexit Uncertainty, Lobby Says

    The future of finance in the U.K. is increasingly digital as new technology projects continue to receive huge funding boosts despite regulatory uncertainty thrown up by Brexit, a key lobby group said in a report on Thursday.

  • April 19, 2018

    Give Preferred Stock Investors More Info, FCA Warns Cos.

    Companies that issue preference shares must make sure they give their investors enough information for them to “properly assess” the risks attached to the shares, the Financial Conduct Authority warned Thursday in the wake of Aviva's quickly-abandoned buyback plan.

  • April 19, 2018

    UK Privacy Watchdog Seeks Greater Powers As GDPR Looms

    The U.K.'s privacy regulator has warned that the recent controversy over the use of Facebook data shows that tough European rules taking effect in May will not give investigators sufficient powers to check how personal data is stored and shared.

  • April 18, 2018

    UK Supreme Court Judge Talks Pollution Liability Expansion

    A U.K. Supreme Court judge told Law360 in an exclusive interview Tuesday that some governments have already heeded growing calls for Commonwealth countries to recognize companies' legal duty to fight climate change, signaling a trend that could drive up insurance rates for top executives.

  • April 18, 2018

    SFO Plans Changes To Witness Preparation After Libor Case

    Britain’s Serious Fraud Office said Wednesday it will change the way it instructs expert witnesses after a panel of U.K. Court of Appeal judges said mistakes made by a banking expert who testified in the SFO’s Libor-rigging prosecutions caused an embarrassing debacle for the crime agency.

  • April 18, 2018

    Life Insurance Derivatives Reduce Market Risks, Fitch Says

    Derivatives used by European life insurers will reduce firms’ exposure to market risks as they continue to “greatly exceed” asset growth on insurers’ balance sheets, a leading credit ratings agency said Wednesday.

  • April 18, 2018

    Hotelier Sues Insurance Broker Over Flood Coverage Fight

    The manager of a defunct U.K. hotel chain has sued RA Insurance Brokers for around £700,000 ($996,000), accusing the broker of breaching its duties by setting the chain up with cheaper coverage from a Hannover unit that refused to pay for flood damage because the broker hadn't disclosed similar past claims. 

  • April 18, 2018

    No Brexit Deal Without Irish Border Fix, Tusk Warns UK

    The U.K. will crash out of the European Union in 2019 without a Brexit deal or transition period if Britain does not resolve the dispute over the Irish border, the president of the European Council warned policymakers on Wednesday.

Expert Analysis

  • How Insurers Can Respond To Disruptive Technology

    Huhnsik Chung

    In an age where technology is poised to disrupt the existing landscape, insurers who embrace the changes and turn them into opportunities will thrive in an increasingly competitive marketplace, say Huhnsik Chung and Christina Cerutti of Baker McKenzie.

  • 6 Common Lateral Partner Myths Debunked

    Dan Hatch

    It’s safe to say that while demand ebbs and flows for legal services, there will never be a shortage of opinions about lateral partner hiring, which is positive for the industry, as anything with such vital importance to careers should attract significant attention. However, there is a unique mythology that travels with the discussions, says Dan Hatch of Major Lindsey & Africa.

  • 4 Ways Law Firms Can Help Battle Addiction

    Link Christin

    With more than a third of lawyers showing signs of problem drinking, and untold others abusing prescription drugs and other substances, it is time for law firms to be more proactive in addressing this issue, says Link Christin, executive director of the Legal Professionals Program at Caron Treatment Centers.

  • A Look At The Present State Of Privilege In Investigations

    Georgina Jones

    The current trend of rolling back privilege in an investigatory context is a troublesome development for companies, and may lead to a reduction in self-reporting and investigation. Even more concerning are the implications on litigation privilege, meaning that defendants will need to incriminate themselves in order to satisfy the evidential test as to when a prosecution was reasonably anticipated, says Georgina Jones of Taylor Wessing LLP.

  • 5 Tips For A Successful Legal Blog

    David Coale

    David Coale, leader of the appellate practice at Lynn Pinker Cox & Hurst LLP, shares his insights into what works — and what does not — when setting up and maintaining a legal blog.

  • Internal Investigations: 10 Ways To Be A Cyber Sleuth

    Caroline Sweeney

    Given the overwhelming complexity of today’s data environments, investigators must take advantage of a variety of technology tools to apply both tried-and-true and new analytical techniques to internal investigations. Investigators must also develop the mindset of a relentless and detailed forensic detective, says Caroline Sweeney of Dorsey & Whitney LLP.

  • Enforcing Non-US Court Judgments In The US Can Be Difficult

    Rodney Page

    As business litigation becomes more international in scope, the ability to enforce a judgment across national boundaries is increasingly a key consideration in any litigation strategy. In the U.S., however, the multiple judicial systems among the states and federal system of courts add complexity to issues of enforcement for non-U.S. judgment creditors, say Rodney Page and Joseph Smallhoover of Bryan Cave LLP.

  • Series

    Notes From A Law Firm Chief Privacy Officer: New Demands

    Phyllis Sumner

    For outside counsel, oftentimes efficiency and responsiveness collide with security measures as clients are increasingly requiring their law firms to comply with third-party risk management programs. To meet these challenges, law firms are focusing more on the roles of chief privacy officer and chief information security officer, says Phyllis Sumner, chief privacy officer for King & Spalding LLP.

  • Companies Subject To OFSI Jurisdiction Should Beware

    Christopher David

    The United Kingdom's Policing and Crime Act 2017 significantly increases the Office of Financial Sanctions Implementation's powers to enforce U.K. sanctions. Some are skeptical that the OFSI will use its new powers aggressively, but companies who may have breached the sanctions regime should prepare for the worst, say Christopher David and David Horn of WilmerHale.

  • How The IPad Can Be A Litigator's Best Friend

    Paul Kiesel

    New mobile computing tools — both hardware and applications — are changing the technology paradigm for legal practitioners. In particular, the combination of the 12.9-inch iPad Pro, the Apple Pencil and the LiquidText annotation app can revolutionize both trial preparation and courtroom litigating, says attorney Paul Kiesel, in his latest review of tech trends.