Insurance UK

  • January 17, 2018

    A Chat With Davis Wright CSO Mark Usellis

    In this monthly series, legal recruiting experts Amanda Brady and Amy Mallow of Major Lindsey & Africa interview law firm management from Am Law 200 firms about how they are navigating an increasingly competitive business environment. The second conversation is with Mark Usellis, chief strategy officer for Davis Wright Tremaine LLP.

  • January 17, 2018

    EU Governments To Weigh Tougher AML, Asset-Freezing Laws

    Tougher new laws targeting financing of terrorism and organized crime have passed muster in the European Parliament and will now be handed up to the European Commission and EU governments for final approval, the legislature said Wednesday.

  • January 17, 2018

    Rothschild Says Investors Knew Risks Before Taking Loan

    NM Rothschild told a High Court hearing in London on Wednesday that four British pensioners who claim the bank mistreated them over a Spanish property scheme should have been aware of the risks attached to their investment before taking out a loan.

  • January 17, 2018

    Data, Sales Rules To Dominate Insurance In 2018, Report Says

    Regulatory developments will dominate London’s insurance industry in 2018 as firms grapple with Brexit upheaval, new European rules on policy sales and tougher accountability for senior brokers, a trade association predicted on Wednesday.

  • January 17, 2018

    Treasury Rejects MPs' Bid To Boost PRA's Competition Role

    The U.K. Treasury has rebuffed an appeal by lawmakers for the government to hand tougher powers to the Prudential Regulation Authority in an effort to boost competition between insurers, newly released correspondence reveals. 

  • January 16, 2018

    Brazilian Bank Looks To Revive $50M Credit Insurance Claim

    A Brazilian banking and financial services company asked a New York federal court to vacate an arbitral award dismissing its $50 million claim against two U.S. insurers for certain misrepresentations in its credit insurance application, saying the tribunal manifestly disregarded the law.

  • January 16, 2018

    Network, Securities Depositories Team Up In Blockchain Deal

    A digital messaging network announced on Tuesday that it has signed a deal to work with seven central securities depositories to demonstrate how distributed ledger technology could be used in post-trade scenarios, such as voting during “corporate actions.”

  • January 16, 2018

    13 Fintechs Get FCA Approval As EU Rolls Out Open Banking

    Thirteen financial technology firms aiming to shake up the way customers manage their finances have so far won approval in the U.K. to provide alternative payment services as a result of European-wide reforms, the Financial Conduct Authority confirmed to Law360 on Tuesday

  • January 16, 2018

    FCA Defends Handling Of Whistleblowing Claims Disclosure

    The Financial Conduct Authority defended its handling of a report of alleged whistleblowing on Tuesday after an independent review by the Financial Regulators Complaints Commissioner found that claims that the watchdog had acted improperly were groundless.

  • January 16, 2018

    New EU Rules Will Hit Asset Managers' Profits, Moody's Says

    The European Union's far-reaching overhaul of financial regulation will squeeze profits at investment firms by prompting investors to move to cheaper funds and intensifying competition, Moody's Investor Services said in a report, predicting a consolidation in the asset-management sector.

  • January 16, 2018

    European Council Urged To Help Delay Insurance Reforms

    Senior European lawmakers have urged the European Council not to stand in the way of efforts to delay tough new rules governing insurance sales, correspondence released on Tuesday reveals.

  • January 15, 2018

    Ropes & Gray Snags Clifford Chance Financial Crime Atty

    Ropes & Gray LLP announced Monday it has hired a partner from Clifford Chance LLP who brings with her over 20 years of experience advising on financial crime investigations and prosecutions.

  • January 15, 2018

    Pollution Rules Threaten Ships' Insurance, Top Broker Warns

    Shipping fleets may lose their registration and their insurance cover after international caps on sulfur emissions enter force in 2020, a leading broker warned on Monday.

  • January 15, 2018

    Ex-BHS Owner Faces 'Unlimited' Fine, Regulator Warns

    The former owner of British Home Stores could be handed an unlimited fine for failing to cooperate with an investigation when he comes before a judge later this week, the U.K. pensions regulator said on Monday.

  • January 15, 2018

    Allstate Insurance Takes Trademark Fight To Top EU Court

    A major U.S. insurer has filed an appeal at the Court of Justice of the European Union as it seeks to overturn a lower court’s decision to dismiss its trademark application for a high-tech device that rewards safe drivers, documents published Monday reveal.

  • January 15, 2018

    UK Pensions Alarm As Carillion Collapses With £587M Hole

    The U.K. pensions regulator said Monday that it will work closely with the government and pension insurance plan trustees after one of Britain’s biggest contracting firms collapsed with a £587 million ($809 million) hole in its retirement savings scheme, raising concerns about pension providers.

  • January 12, 2018

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

    The last week has seen Airbus sue Axa and several other insurers, a sports betting and financial software firm lodge a suit against Barclays, and an appeal from an insurance brokerage that recently lost its U.K. license. Here, Law360 looks at those and other new claims in the U.K.

  • January 12, 2018

    Insurer Wins Wider Doc Disclosure In £29M Maritime Claim

    A U.K. High Court judge on Friday granted Royal & Sun Alliance PLC’s request for a court order forcing wider disclosure of shipping documents in its legal fight with Double Eight Marine SA over a £29 million ($39.7 million) claim over the sinking of the Athens-based shipping company’s vessel.

  • January 12, 2018

    MPs To Hear Evidence On Fighting Bogus Whiplash Claims

    A U.K. parliamentary committee will hear evidence on Tuesday on whiplash claims made after motor accidents, amid insurance industry concerns that they are leading to inflated payouts.

  • January 12, 2018

    Auditors Urge Insurers To Start Preparing Now For 2021 Regs

    Auditors including KPMG and Deloitte have urged insurers not to underestimate how long they will need to prepare for tough new accounting standards set to come into force in 2021.

Expert Analysis

  • 6 Ways Teaching A Law School Class Can Benefit Lawyers

    Steven Allison

    Though teaching a law school class may be one of the last things on a busy practitioner's to-do list, it's a misconception that teaching will benefit only those who are looking to leave the practice of law and enter academia. It also offers several practical benefits, especially for more junior lawyers looking for stand-up experience, say Steven Allison and Samrah Mahmoud of Crowell & Moring LLP.

  • US Law Firms Face Discovery Of Foreign Clients' Records

    Steven Kobre

    The law relating to the taking of discovery directly from U.S. law firms is evolving in favor of disclosure when documents have been provided to third parties. Law firms must be vigilant in handling their clients' documents or face being responsible for producing them to third parties, say Steven Kobre and John Han of Kobre & Kim LLP.

  • Rules Of The Road For Accessing Capital In Europe

    Peter Astleford

    Despite the advances of the European single market, there remains a confusing combination of EU and nation-specific rules governing the sale of fund products in Europe. Attorneys with Dechert LLP answer some commonly asked questions and explain how to sell alternative investment funds in the European Economic Area.

  • Feature

    An Interview With Floyd Abrams

    Randy Maniloff

    It was a privilege to spend a half-hour on the phone with the nation's foremost First Amendment lawyer. Floyd Abrams and I discussed his career, his new book and what he sees in his free-speech crystal ball. And he was a very good sport when I asked if it is constitutionally protected to yell inside a movie theater: “Citizens United is a terrible decision and should be set on fire,” says Randy Maniloff of White and Williams LLP.

  • The UK's New Suspicious Activity Reporting Regime: Part 2

    Neil Gerrard

    Under the U.K. Criminal Finances Act 2017, the procedures for reporting suspicious financial activity have changed. Law firms, accounting firms and banks must now take on a more active role in identifying sources of information relevant to determining whether a money laundering offense has taken place, and must respond to information requests from other regulated firms, say attorneys with Dechert LLP.

  • A Resurgence Of Synthetic Securitizations

    Daniel Budofsky

    After a major market contraction in the wake of the financial crisis, risk-pooling transactions show signs of gaining favor once more, says Daniel Budofsky of Pillsbury Winthrop Shaw Pittman LLP.

  • Tips For Securing Antitrust Clearance Around The World

    Rebecca Nelson

    Early attention to the antitrust considerations of a given transaction can go a long way toward promoting the chances of a timely or early clearance. However, promoting a speedy and efficient review in the EU requires different procedures compared to when a U.S. filing is needed, say attorneys with Bryan Cave LLP.

  • The Challenges Of Insurance Arbitration In Foreign Forums

    Luke Debevec

    Differences in law, practice and procedure between the U.S. and U.K. legal systems require policyholders and their captives to carefully consider the applicable law and forum for resolving disputes before entering into an insurance or reinsurance policy or contract containing an international arbitration agreement, say attorneys with Reed Smith LLP.

  • Tips For Complying With ABA’s New Encryption Guidance

    Nick Holda

    Last month, the American Bar Association published revised guidance regarding an attorney’s duty to protect sensitive client material in light of recent high-profile hacks. The first step in compliance is understanding how your data is being stored and accessed. There are three key questions you should ask your firm’s information technology staff and/or external solution vendors, says Nick Holda of PreVeil.

  • British Airways' Pensions Saga Is Flying Under The Radar

    Rosalind Connor

    While most of the world is talking about the IT problem that grounded British Airways planes, pension lawyers have been discussing British Airways v. Airway Pension Scheme Trustees, and the danger of leaving the power to direct scheme benefits in the hands of someone who does not have to pay for it, says Rosalind Connor of ARC Pensions Law.