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Insurance UK

  • July 18, 2018

    Bureaucratic Delay Slows Search For Regulator's New Boss

    The U.K.'s pensions watchdog is unable to advertise for a replacement for its departing chief executive because the Department for Work and Pensions has failed to sign off the paperwork, the regulator’s chairman told lawmakers on Wednesday.

  • July 18, 2018

    CMA Floats Competition Fixes For £1.6T Pensions Market

    The U.K.'s antitrust watchdog warned Wednesday that it saw a lack of competition within the sector that manages £1.6 trillion ($2 trillion) of pensions, and proposed reforms to the tendering process in an attempt to make the market fairer for trustees.

  • July 18, 2018

    Minister Refuses To Discuss Future Of UK Pensions 'Portal'

    The pensions minister refused to comment on Wednesday about whether the U.K. government is preparing to abandon sweeping reforms that would help millions of workers keep track of their retirement savings as he came under pressure from lawmakers.

  • July 17, 2018

    Global 20: Squire Patton Boggs

    Squire Patton Boggs LLP has maintained a cohesive team of attorneys in offices across the globe who guide billions of dollars in government infrastructure financing for projects like Dubai’s Route 2020 along with high-value initial public offerings, once again earning a spot on Law360’s Global 20 list.

  • July 17, 2018

    Insurer, Engineer Settle Wind Farm Construction Loss Suit

    Collapsed engineering firm Lagan Construction Ltd. has settled a claim against Starstone Insurance Ltd. alleging the insurer must cover the repairs for three Irish windfarms, which the builder said exposed it to costs of up to £47 million ($62.2 million).

  • July 17, 2018

    Hiscox To Move Contracts To Luxembourg Ahead of Brexit

    Bermuda-based insurer Hiscox Insurance Co. is preparing to shift its cross-border contracts out of the U.K. amid concerns that companies could be breaking the law if they pay out to millions of policyholders after Britain exits the European Union.

  • July 17, 2018

    EU Watchdog Launches Probe Into Travel Insurance Sector

    Europe’s top insurance regulator said on Tuesday that it is reviewing how well insurance firms are protecting consumers who buy travel insurance, as it looks to provide guidance to insurers on best practices under Europe’s new insurance sales regime.

  • July 17, 2018

    Gov't Sidelines MPs To Crack Down On 'Whiplash' Claims

    The government is to forge ahead with plans to make it harder for car crash victims to pursue insurance claims for "whiplash" injury in the U.K., rejecting pressure from lawmakers who say the reforms are a wider affront to justice.

  • July 17, 2018

    Brexit Hit To UK Trade Cannot Be Offset, Lawmakers Warn

    The economic benefits the U.K. will gain when it can sign free-trade deals outside the European Union are “unlikely to offset losses” when it leaves the single market and customs union, two influential lawmakers said Tuesday ahead of a key parliamentary vote on new legislation.

  • July 17, 2018

    MPs To Challenge Gov't Over Future Of Pensions 'Portal'

    Politicians will challenge the U.K.'s pensions minister on Wednesday over reports that the government is to ditch its plans for a “pensions dashboard” that would enable millions of savers to keep track of their retirement funds.

  • July 16, 2018

    Global 20: Hogan Lovells

    Hogan Lovells established a new office in Boston and helmed major legal victories with international implications, including securing a landmark patent decision at the U.K. Supreme Court and winning an uphill battle against “Putin’s banker,” earning the firm a spot once again on Law360’s Global 20 list.

  • July 16, 2018

    Allianz Fights Flood Damages Claim With Disclosure Failures

    Allianz Insurance PLC has defended its refusal to indemnify U.K. manufacturing firm Coilcolor Ltd. for flood damage, arguing in new court documents that the insurance policy was voided after the firm made repeated omissions and false representations about the past activities of its directors.

  • July 16, 2018

    Gang Sentenced Over 'Crash For Cash' Insurance Fraud

    The leader of a gang that deliberately crashed vehicles then filed bogus insurance claims for sums exceeding £250,000 ($331,000) has been jailed for more than four years, the Insurance Fraud Bureau said on Monday, as 11 people were sentenced for their part in the fraud.

  • July 16, 2018

    Watchdog Unveils 'Sharper' UK Corporate Governance Code

    The accountancy watchdog unveiled a revamp of its corporate governance code on Monday aimed at improving boardroom culture and rebuilding public trust in British businesses.

  • July 16, 2018

    FCA Moves To Shake Up £500B Online Investment Market

    Competition in the U.K.’s £500 billion ($663.2 billion) investment platform sector is “not working as well as it should,” the Financial Conduct Authority warned on Monday as it set out proposals to help customers switch services more easily.

  • July 16, 2018

    Insurers Seek EU-Wide Regime For Unmanned Aircraft

    The European Commission must design a broad regulatory framework to govern the use of drones because the current fragmented system is hampering growth in the market and fueling privacy concerns, the European insurance industry said on Monday.

  • July 16, 2018

    MPs Call For 'Revolutionary' Flexible Pension Reforms

    Lawmakers urged the U.K. government on Monday to create the country’s first pension scheme that would offer broader "ambitions" for annual payouts, rather than guaranteed amounts, and help to bring about a “great pensions revolution.”

  • July 13, 2018

    UK Premiums Plunge As Insurers Await Discount Rate Change

    U.K. motor insurance premiums have fallen the most in one year since 2014 as the industry gears up for a change to the government’s compensation calculators and a crackdown on dubious whiplash claims, new data showed on Monday.

  • July 13, 2018

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

    The last week has seen dozens of pension funds and other major institutional investors sue HSBC, the leadership of prestigious U.K. schools take on Scottish Widows and a dispute between two foreign exchange firms. Here, Law360 looks at those and other new claims in the U.K.

  • July 13, 2018

    Global 20: Linklaters

    From playing a key role in Takeda’s $62 billion takeover of Shire PLC to its work on a $4 billion infrastructure deal in Africa, U.K.-based Linklaters LLP blazed new trails around the globe over the past year and earned a spot on Law360’s Global 20 list.

Expert Analysis

  • Financial Institutions Must Invest In FATCA Compliance

    Ashly Elmore Drew

    The deadline for foreign financial institutions to sign up with the U.S. Internal Revenue Service's Foreign Account Tax Compliance Act registration system came and went last month. While deregulatory and tax reform efforts in Washington could eventually change FATCA enforcement, for the time being, failure to be in compliance can have serious implications, say attorneys with Burr & Forman LLP.

  • Passing Stress Tests With Convertible Bond Strategies

    Dan Partlow

    Solvency II has been a challenging regulation for European insurers, but insurers seeking to pass stress tests can rely on strategies like convertible bonds, which provide significant capital requirement relief without sacrificing return on invested assets, say Dan Partlow and Hart Woodson of Advent Capital Management LLC.

  • Applying The Investors' Playbook To Legal Career Planning

    Howard Cohl

    Nothing has been more instrumental in my role as a legal recruiter than what I learned from a variety of hedge fund managers, venture capitalists and investment bankers — how to analyze a deal and make a decision quickly. It boils down to the traditional SWOT analysis, says Howard Cohl, director in Major Lindsey & Africa’s emerging markets group.

  • The Potential Effect Of Data Portability Under GDPR

    José Vega

    While many aspects of the EU's General Data Protection Regulation may be causing consternation in boardrooms around the world, one particularly innovative provision could benefit individuals and businesses alike by leveling the competitive playing field — the right to data portability, say José Vega and Amy Puckett of Bradley Arant Boult Cummings LLP.

  • Make Way For The 'Unicorns'

    Lucy Endel Bassli

    By "unicorn" I don’t mean the next great tech startup with a valuation of $1 billion. I mean the new breed of lawyers realizing that there are better ways to get their day jobs done, says Lucy Endel Bassli, assistant general counsel leading the legal operations and contracting functions at Microsoft Corp.

  • Opinion

    Representing Women At The Intersection Of Law And Finance

    Andrea Mitchell

    To the extent that companies have tolerated predominantly male leadership in the past because it was deemed necessary for growth and prosperity, or viewed diversity and the underrepresentation of women strictly as human resources issues, a growing body of research suggests otherwise, say Andrea Mitchell and Valerie Hletko of Buckley Sandler LLP.

  • The Law Firm CFO’s Role In The Strategic Planning Process

    Tyler Quinn

    Today's law firm chief financial officer should be involved in many areas beyond traditional financial management, including operations, risk management and information technology. He or she can support strategic planning throughout the process, from development of the plan to its implementation, measurement and eventual evolution, say Tyler Quinn and Marc Feigelson of Kaufman Rossin PA.

  • Law Firms Must Transition To An Industry Sector Approach

    Heidi Gardner

    Clients are beginning to expect and demand that their external lawyers provide advice tailored to the client's industry. Aside from this, law firms should want to move toward a sector approach because industry-focused groups are a natural place for cross-practice collaboration to flourish, say Heidi Gardner and Anusia Gillespie of Harvard Law School.

  • UK Prime Minister's Speech Fails To Provide Clarity

    David Mundy

    U.K. Prime Minister Theresa May's speech in Florence last month was intended to create momentum in the ongoing Brexit negotiations, but has been criticized as vague and insubstantial. It seems that for the time being, the U.K. government's attitude toward Brexit negotiations is to wait for a solution to turn up, says David Mundy of Bircham Dyson Bell LLP.

  • Why You Should Consider Hyperlinking Your Next Brief

    Christine Falcicchio

    The shift to electronic filing has somewhat eased the task of reviewing briefs and their supporting files. An e-brief takes e-filing to the next level, says Christine Falcicchio, a principal at Strut Legal Inc.