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.
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.”
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.